High Court freezes central bank circular on loan rescheduling

FE Online Desk | Published: May 21, 2019 14:26:08 | Updated: May 21, 2019 21:57:12

The High Court has put on hold until June 24 a Bangladesh Bank circular providing loan defaulters with special facilities.

A bench of the court passed the order on Tuesday upon a petition filed by lawyer Manzill Murshid.

According to the circular, the errant borrowers can reschedule classified loans with 2.0 per cent down payment at 9.0 per cent interest rate, local media reports say.

After the order, lawyer Manzill Murshid said that the court has compared the circular to rating the bad borrowers over the good ones.

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