Bangladesh Bank (BB) has relaxed again banks’ Internal Credit Risk Rating System (ICRRS) considering the impact of pandemic on the economic activities.
As a result the businesses will be benefited as banks can provide loans following relaxing ICRRS, the central bank officials said.
The marginal ICRRS score fell to 50 per cent from 55 per cent.
The Banking Regulations and policy department (BRPD) of BB issued a circular on Wednesday relaxing the ICRRS adding that financial statements of different sectors including the industry, trading and service sector of the year were not as stable as before.
Institutions face difficulties in re-borrowing or renewing previous loans as the picture is relatively marginal, the BB circular stated.
In this context, the BB relaxed the ICRRS to accelerate business activities across the country.
The BRPD directive states, the businesses can avail the required loan facility from the bank considering the financial condition and / or to continue the renewal of the existing loan.
Source: United News of Bangladesh