Bangladesh Bank removes 'large industry' term from Tk20,000cr scheme

In June, Bangladesh Bank introduced the Tk20,000 crore 'Closed Industry and Service Sector Support Pre-financing Scheme' to assist in restarting businesses that had ceased operations. The central bank has now decided to drop the term 'large industry' from the scheme's guidelines. Under the current framework, banks are permitted to access funds from the central bank at a 4% interest rate, while the maximum interest rate for lending to customers is capped at 7%.