The Bangladesh Bank on Wednesday asked banks and non-bank financial institutions to waive fines on late payment of instalments of loans, savings schemes like deposit pension scheme and credit card bills, considering general holidays and an internet blackout amid the countrywide unrests centring quota reform protests.
The unrests led to a three-day general holiday starting on Sunday and an internet blackout starting on July 18, disrupting financial transactions.
Broadband internet connection was partially restored in the Dhaka city at about 9:00pm on Tuesday.
In two separate circulars issued on Wednesday, the central bank directed these financial institutions to allow customers to settle their dues without incurring additional interest or penalties.
The circular stated that if customers cleared their loan and credit card dues by July 31, no interest, penalty interest, additional interest, delay fees or fines of any kind would be imposed.
Furthermore, payments for various savings schemes, including DPS, made by July 31, will not attract any delay fees or fines.
Besides, no savings schemes should be cancelled due to missed instalments during this period.
If a customer fails to pay the instalments for any savings scheme within this timeframe, the scheme cannot be closed or cancelled, and no interest or profit lower than the previously announced rate can be provided, according to the circular.
Any interest, penalty interest, or delay fees already charged on loans, credit cards, or savings schemes must be refunded or adjusted, it said.
The circular said that many borrowers and credit card holders were unable to meet their payment deadlines due to the recent situation in the country.
