DHAKA, May 3, 2020 (BSS) – Bangladesh Bank (BB) has instructed all banks
to transfer the interest or profit for the month of April and May against the
existing loans or investments to an interest free blocked account
and not to show it in its income account.
The central bank instructed it considering the inconvenient situation
caused due to Covid-19, as per a BB circular issued today.
Until further notice, bank cannot impose this two months’ interest from the
borrowers, the circular added.
If any bank has already transferred the interest or profit to their income
account, it has to be adjusted through reserve entry.