The Microcredit Regulatory Authority (MRA) has extended loan default facility until September 30.
A circular issued on June 23, the MRA asked micro finance institutions (MFIs) to refrain from classifying any loans adversely until September 30 in case borrowers failed to pay back their installments as per schedules.
It said no MFIs could classify any loans adversely until September 30, effective from January 01, this year.
On March 22, The Microcredit Regulatory Authority suspended loan classification till June 30, this year.
Earlier on June 15, Bangladesh Bank extended the loan default facility for bank defaulters until the same period.
As of December, 2019, 758 register MFIs were in operation in the country, according to the data of MRA.
