Dhaka: Bangladesh Bank (BB) has eased the loan rescheduling policy for raw jute exporters for the next two years. The central bank announced in a circular today that exporters of raw jute will be allowed to reschedule their loans by making a down payment of 2.0 per cent of their outstanding loans.
According to Bangladesh Sangbad Sangstha, the outstanding loan amount will be calculated as of March 31, 2024. This adjustment aims to provide relief to traders, enabling them to secure loans from scheduled banks as their moratorium will now be accepted by these financial institutions.
Despite Bangladesh holding the position as the world’s leading exporter of raw jute, traders have encountered significant challenges in exporting the commodity over the past few years. This policy shift by the central bank is expected to alleviate some of the financial pressures faced by these exporters, supporting them in maintaining their global market presence.