Bangladesh Bank on Tuesday relaxed conditions for borrowing from Tk20,000 crore stimulus fund for the cottage, micro, small and medium entrepreneurs (CMSMEs).
Under the revised rules, lenders can bankroll CMSMEs sector without following internal credit risk rating of borrowers.
In that case, the central bank suggested banks to select borrowers on banker-customer relationship criterion.
Earlier, the BB said a borrower must have at least a marginal rating under the guidelines on internal credit risk rating system to be judged by its immediate past year's business performance.
Typically, banks can finance only ‘excellent’ and ‘good’ rated borrowers as per the guidelines. Borrowers with ‘marginal’ credit rating get loan under special consideration and ‘unacceptable’ rated customers are not eligible to get any bank loan.
“This is a special privilege for affected businesses under the Covid-19 catastrophe,” a senior BB official told Dhaka Tribune.
