Bangladesh Bank has extended the loan disbursement schedule under a refinance scheme to support cinema hall owners.
The Banking Regulations and Policy Department (BRPD) of the central bank in a notification on Sunday extended the schedule to December 31, 2022, from the earlier deadline of March 31, 2022, reports UNB.
In February 2021, the central bank formed a refinance scheme of Tk10.0 billion to support cinema hall owners’ for renovation, technology up-gradation and modernisation of halls to ensure a time befitting atmosphere for the audience.
The Bangladesh Bank later amended the notification and extended the limit of loan for an owner of a cinema hall to Tk 100 million, which was Tk 50 million earlier.
A 100-seat capacity cinema hall owner can avail maximum loan of Tk 100 million.
The cinema halls in the divisional cities can take the loan at a 5 per cent interest rate while in other cities at a 4.5 per cent interest rate. The repayment period is eight years with one year grace period.
The central bank has extended the loan deadline due to poor disbursement reports for lack of publicity and the complexity of different banks’ conditions.