Published : 04 Nov 2026, 07:24 PM
Updated : 04 Nov 2026, 07:28 PM
Bangladesh Bank has approved a fresh Tk 30 billion loan facility for defaulting City Group, relaxing restrictions to allow the financing despite its overdue loans.
The central bank has waived Section 27KaKa(3) of the Bank Company Act until December next year, clearing the way for the credit.
The facility will be extended to five City Group companies through syndicated loans led by City Bank, Bangladesh Bank said in a statement.
The loans will be provided as working capital, the central bank said. The waiver allows banks to lend despite restrictions normally imposed on companies with defaulted loans under the law.
