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Despite the completion of the project, the construction businessmen, who have not been able to repay their loans to banks and financial institutions due to the government's non-payment, have been given a deadline to pay their loans by next June. The National Bank has issued the instructions to banks and financial institutions on Wednesday.
In the case of loans related to the construction business that have been secured from the public body and the construction work of the project has been completed or the construction work is in progress but the payment is yet to be received, in the case of loans related to the construction business, at the request of the debtor, the cash flow shall be analyzed based on the need and justification. The deadline for loan repayment is mentioned in the instructions. In this process, after collecting at least 10 percent of the interest owed by the borrower, the licensed institution can reschedule and/or restructure the loan subject to the following conditions.
This is the new arrangement ?
