Bangladesh Bank waives penalty on credit card dues until June

The Bangladesh Bank has ordered banks to waive penal charges for credit card customers until June for any late payment amid the ongoing lockdown due to a coronavirus outbreak.

The central bank announced the move in a circular issued on Saturday, bdnews24.com reported.

If a bank has imposed any charges in the meantime, it has to pay it back to the customer.

 “People in the country are now locked up in their homes to save their lives from the novel coronavirus. There is no income. As a result, it is not possible for many to pay credit card fines or extra charges in this situation,” Abu Farah Md Naser, executive director of Bangladesh Bank, said.

 “Bangladesh Bank has taken this decision considering the overall situation.”

The order bars banks from showing credit card customers as defaulters until June, Naser said.