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Bangladesh Bank raises lending ceiling as coronavirus chokes economy
Bangladesh Bank has raised advance to deposit ratio or ADR by 2 percentage points, enabling banks to lend more during the coronavirus lockdown.
Published : 12 April 2020, 01:49 PM
Updated : 12 April 2020, 09:55 PM
ADR, which measures loans as the percentage of deposits for commercial banks, will be 87 percent for the general banks. The rate will be 92 percent for Sharia-based banking.
The central bank ramped up its efforts to help the economy cope up with the effects of the coronavirus pandemic in a notice on Sunday, two days after the lockdown to contain the outbreak was extended to Apr 25.
It said the banks have been given the option to implement the Tk 727.5 billion bailout package which the damaged industries will get as loans.
The central bank had earlier lowered repo rate and cash reserve requirement, or CRR, to enable the banks to implement the stimulus.
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