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The Bangladesh Bank has cleared a major loan rescheduling scheme for around 250 companies — including some of the nation’s largest corporate defaulters — offering repayment terms of up to 15 years with down payments as low as 1 percent and grace periods of up to three years.

Officials said the move is aimed at reviving business activity amid slowing economic growth, foreign exchange volatility, and lingering fallout from the Covid-19 pandemic and global supply shocks.

From 1,250 Applications to 250 Approvals
Out of 1,250 businesses that sought policy support, the central bank approved 250 after reviewing cases where defaults were deemed beyond borrowers’ control. Willful defaulters will be excluded, BB spokesperson Areif Hossain Khan confirmed.

The approved list includes conglomerates such as Abdul Monem Group, Orion Group, Deshbandhu Group, and Tanaka Group, alongside leading players in steel, textiles, agro-processing, and footwear manufacturing.

Big Defaults, Bigger Relief

Abdul Monem Ltd: Tk 698 crore in non-performing loans across 24 banks and NBFIs.

Orion Oil and Shipping (Orion Group): Tk 882 crore in defaults at multiple lenders.

Tanaka Group: Tk 926 crore in defaults at Agrani Bank alone.

Other beneficiaries include Dandy Dyeing, Bengal Group, Ambient Steel, GPH Ispat, Prime Group, Anwar Group, Silkway Group, Shadab Fashion, Apex Weaving, Diamond Spinning Mills, BUC Agro, Bling Leather Products, and several others.

Customised Rescheduling Terms
Under the policy, repayment schedules will range from 5 to 15 years depending on company circumstances, with some firms receiving extended grace periods and minimal down payments. The facility was designed by a five-member BB committee formed in January to assist corporate borrowers affected by external shocks.

Bankers Voice Concerns
While the central bank says the initiative is necessary to preserve industrial capacity, bankers warn it may weaken repayment discipline.
“Many borrowers have already halted repayments in anticipation of relief, making recovery harder,” said a senior Agrani Bank official.

Default Crisis Deepens
Non-performing loans hit a record Tk 4,20,335 crore at the end of March, surging after the political transition in August last year. Analysts say the scope of this rescheduling underscores the scale of distress in the banking sector.