Cinema hall owners get one more year to seek loans from BB

Bangladesh Bank has extended the time by a year for the country's cinema hall owners to apply for loans from the Tk 1,000 crore refinance scheme formed by the banking watchdog.

The central bank today issued a notice extending the deadline from December last year to December 31 this year.

The refinance scheme was formed to help hall owners set up new halls or renovate the existing ones.

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Refinance scheme’s time extended for cinema hall owners

In February 2021, the Bangladesh Bank had asked hall owners to apply for soft loans within March in 2022, but many of them did not get the message in time.

Against the backdrop, the BB extended the deadline until December last year, but a large portion of the refinance fund remained unused.

It was mentioned in the notice that a good number of cinema hall owners are showing their willingness to take funds from the scheme, which has prompted the Bangladesh Bank to extend the deadline further.

Under the refinance scheme, entrepreneurs will get Tk 10 crore each to set up new cinema halls.

Meanwhile, existing hall owners will be allowed to get Tk 5 crore each in order to renovate their theatres.