Businessmen who have defaulted on bank loans are being given the opportunity to restructure their loans again. Bangladesh Bank is giving this opportunity to businessmen under special powers. The banking sector regulator has already decided to restructure the defaulted loans of about 280 institutions. More than 1,000 institutions are awaiting a decision on their loan restructuring applications.

According to the prevailing policy, defaulting institutions are not able to renew these loans by depositing money as per demand. For this, institutions are being given the opportunity to restructure their loans under special facilities. Only those whose loan balance is more than 50 crore taka are being given this opportunity. Bangladesh Bank formed a selection committee at the beginning of this year to provide this facility.

So far, the businesses of many of the institutions whose defaulted loans Bangladesh Bank has decided to restructure have been closed during the ousted Awami League regime. The list includes businesses of top-level leaders of the Bangladesh Nationalist Party (BNP) to the field level. Some have had their businesses disrupted by the coronavirus and the dollar crisis. Some of those who received benefits are also accused of being involved in loan irregularities.

According to Bangladesh Bank sources, some of the institutions that have received the loan restructuring facility this time have received such facilities from Bangladesh Bank before. However, it has not been confirmed how much loan restructuring has been decided so far. Again, Bangladesh Bank's decision will be effective only when the customer deposits a certain amount of money and the bank will implement it. However, it is known that those who choose to do so are already renewing their loans.

Central Bank Executive Director and Spokesperson Arif Hossain Khan told that letters have been sent to banks to provide special policy support to 280 institutions. This facility is being given to institutions that have been affected by the coronavirus, the rise in the value of the dollar, and political reasons. More applications are being scrutinized. This will help restore momentum in business and commerce.