Bangladesh Bank to provide policy support to major industrial groups to protect employment

Bangladesh Bank has announced that it will provide necessary policy support to large industrial and business groups to keep their production, employment and economic activities running.

Central bank spokesperson Arif Hossain Khan shared the information with journalists at Bangladesh Bank on Sunday, July 5.

He said large industrial groups often face complex problems that cannot be resolved immediately. The central bank will try to stand by them through necessary policy support to resolve various complications.

According to Bangladesh Bank, even if industrial groups that play a vital role in the economy face temporary financial difficulties, necessary support will be provided to ensure that their production activities are not disrupted and the supply of goods and services to the market remains normal.

The spokesperson further said that large industrial groups are associated with employment for a large number of people, significant loans from the banking sector and overall economic activity. Therefore, if any institution faces temporary difficulties, it can impact the entire economy. Taking this into consideration, the initiative for necessary support has been taken.

Several large industrial groups in the country are currently under financial pressure due to high-interest bank loans, political situations and global economic challenges. The issue of City Group's loan of approximately Tk 25,000 crore has come up in discussions. In this context, loan restructuring and policy support from the central bank are gaining importance.

Bangladesh Bank said the support will include coordination among lending banks, loan restructuring opportunities, necessary regulatory facilities and measures to keep production activities running.

However, the central bank clarified that this initiative is not to provide special benefits to any specific institution. The main objective is to maintain stability in the banking sector, protect employment and keep the supply of essential commodities normal in the market.