The Bangladesh Bank has relaxed again banks’ Internal Credit Risk Rating System (ICRRS) considering the impact of the Covid-19 pandemic on the economic activities.
As a result, the businesses will be benefited as banks can provide loans following relaxing ICRRS, the central bank officials said.
The marginal ICRRS score fell to 50 per cent from 55 per cent, reports UNB.
The Banking Regulations and policy department (BRPD) of the central bank issued a circular on Wednesday relaxing the ICRRS adding that financial statements of different sectors including the industry, trading and service sector of the year were not as stable as before.
Institutions face difficulties in re-borrowing or renewing previous loans as the picture is relatively marginal, the BB circular stated.
In this context, the BB relaxed the ICRRS to accelerate business activities across the country.
The BRPD directive states, the businesses can get the required loan facility from the bank considering the financial condition and/or to continue the renewal of the existing loan.
Last year, the ceiling of marginal internal credit risk rating score was brought down to 55 per cent from 60 per cent.
