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Source: Wikimedia Commons
Bangladesh Bank (BB) has directed all financial companies operating in the country to complete receiving applications and obtaining board approval to provide special rescheduling and restructuring facilities to affected borrowers by 31 December 2026.
Reported on Tuesday, the central bank issued the directive in a circular letter to facilitate policy support for restoring the business operations and financial conditions of distressed but viable institutions.
The circular drew the attention of the chief executive officers and managing directors of all financial companies operating in Bangladesh to earlier circular letters issued on 16 July and 31 August 2026.
According to the latest directive, financial companies must receive applications from distressed borrowers seeking special rescheduling and restructuring facilities and complete all related procedures, including approval by their respective boards of directors, within 31 December 2026.
Taking immediate effect under the authority provided by Section 41(1)(ka) of the Financial Companies Act, 2023, the circular stated that existing relevant circulars and other instructions issued in this connection will remain unchanged.
Source: BSS
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