Banks asked not to charge late fees for credit cards - 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. 

 

‘Qawmi Madrasa: An Unfinished Publication’ available in market - dainik shiksha ‘Qawmi Madrasa: An Unfinished Publication’ available in market Settle disputes through dialogue, say 'no' to wars: PM Hasina at UNESCAP meet - dainik shiksha Settle disputes through dialogue, say 'no' to wars: PM Hasina at UNESCAP meet Severe Heatwave: Patient overload, insufficient facilities exacerbate health crisis in Khulna - dainik shiksha Severe Heatwave: Patient overload, insufficient facilities exacerbate health crisis in Khulna Heatwave alert extended in Bangladesh for 72 hours - dainik shiksha Heatwave alert extended in Bangladesh for 72 hours 288 members of Myanmar’s security forces sent back from Bangladesh - dainik shiksha 288 members of Myanmar’s security forces sent back from Bangladesh New Appellate Division Judges take oath - dainik shiksha New Appellate Division Judges take oath CUET students stage protests blocking highway - dainik shiksha CUET students stage protests blocking highway Dhaka’s air quality unhealthy for sensitive groups - dainik shiksha Dhaka’s air quality unhealthy for sensitive groups please click here to view dainikshiksha website Execution time: 0.0056219100952148