BB to provide Tk 2,000cr to NBFI(s) under stimulus fund

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The central bank has agreed to provide Tk2,000 crore for NBFI sector as a pre-finance scheme under the existing two stimulus packages. This is a part of the continued effort from the Bangladesh Bank to improve the liquidity situation of the sector to overcome the coronavirus pandemic fallout.

The decision was announced at a meeting held at the Bangladesh Bank head office at Motijheel, Dhaka.

NBFIs also requested the central bank’s help to instruct banks not to withdraw deposit from the NBFIs until December this year.

The Bangladesh Bank agreed to issue the instruction on September this year as most of the NBFIs are heavily depended on the deposit of banks.

Earlier, the central bank reduced the cash reserve ratio (CRR) by 100 basis points to 1.5 per cent for NBFIs in an aim to ease liquidity pressure originated from the pandemic fallout.

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