Banks asked not to charge late fees for credit cards - Miscellaneous - Dainikshiksha


Banks asked not to charge late fees for credit cards

Staff Reporter |

Bangladesh Bank yesterday asked lenders not to impose any late payment fees on credit cardholders, who are finding it difficult to clear the bills due to the ongoing movement restriction and short banking hours.

Lenders have also been asked to refund clients who paid late payment fees on credit card bills from March 15 onwards, according to a notice from the central bank.

Besides, no form of penal interest will be imposed on credit cardholders in case of failure to pay an instalment on time. These instructions will remain in place until May 31.

In a separate move, the Bangladesh Bank instructed lenders to set a 5 per cent maximum margin when opening letters of credit for the import of baby food.

BB took this step in fears that there may be a shortage for the product both at locally and globally due to the ongoing coronavirus pandemic.

Therefore, banks were told to take adequate measures to ensure the availability of baby food at local markets. Lenders have been asked to abide by these instructions until June 30. 

 




Read comments.
Educational institutions to remain closed till Sept: PM - dainik shiksha Educational institutions to remain closed till Sept: PM Covid-19 patients recovering quickly after getting experimental drug remdesivir - dainik shiksha Covid-19 patients recovering quickly after getting experimental drug remdesivir Entire Bangladesh declared risky for COVID-19 - dainik shiksha Entire Bangladesh declared risky for COVID-19 RMG factories will not reopen on April 26: BGMEA president - dainik shiksha RMG factories will not reopen on April 26: BGMEA president US tol halt funding to WHO over coronavirus - dainik shiksha US tol halt funding to WHO over coronavirus IU shut indefinitely - dainik shiksha IU shut indefinitely please click here to view dainikshiksha website