The Bangladesh Bank has set a target to distribute Tk 4.43 billion loans by 11 state-owned and private banks to facilitate rawhide trade during the Eid-ul-Azha.
Central bank spokesperson Md Serajul Islam said, “Four state-owned banks and seven private ones will disburse the loans. We sent letters out to the banks with the instruction.”
Leather traders, including small business owners, tanneries and organisations involved in processing, can reschedule their defaulted loans after a minimum 2 per cent down payment and get fresh loans to buy rawhide, reports bdnews24.com.
Of the state-owned banks, Janata Bank will disburse the highest amount of loan in rawhide trade - Tk 1.2 billion, while Agrani Bank will distribute Tk 830 million, Rupali Bank TK 300 million and Sonali Bank Tk 250 million.
Of the private banks, Islami Bank has allocated Tk 1.7 billion for loans. Aside from that, Al-Arafah Islami Bank will disburse Tk 52 million, Jamuna Bank Tk 50 million, Dhaka Bank Tk 30 million, South Bangla Agriculture and Commerce Bank Tk 10 million, National Credit and Commerce Bank Tk 5 million and The City Bank TK 3 million among traders.
Last year, the central bank had approved loans of Tk 5.83 billion but less than half of it was disbursed. Such has been the case over the past few years.
Bangladesh will celebrate Eid-ul-Azha on July 10 this year.
According to the Ministry of Fisheries and Livestock, there are 12.12 million animals ready for slaughter in the country, including 4.43 million cows, 173,504 buffaloes, 6.57 million goats, 937,682 lambs and 1,409 other animals.