Cinema owners can take out a loan under the refinance program until December 31

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Bangladesh Bank has extended the loan disbursement schedule under a refinancing scheme to support movie theater owners.

The central bank’s Banking Regulation and Policy Department (BRPD), in a notification on Sunday, extended the timetable to December 31, 2022, from the earlier deadline of March 31, 2022, UNB reports. .

In February 2021, the central bank introduced a Tk 10.0 billion refinancing program to support movie theater owners in the renovation, technological upgrade and modernization of theaters to ensure a conducive atmosphere to the public.

The Bangladesh Bank then amended the notification and extended the loan limit for a movie theater owner to 100 million taka, which was 50 million taka previously.

A cinema owner with a capacity of 100 seats can benefit from a maximum loan of Tk 100 million.

Cinemas in departmental towns can take out the loan at an interest rate of 5% while in other towns at an interest rate of 4.5%. The repayment period is eight years with a grace period of one year.

The central bank extended the deadline for the loan due to poor disbursement reports, lack of publicity and the complexity of terms from different banks.

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