CIB report mandatory for agricultural loans: BB

CIB report mandatory for agricultural loans: BB

From now on, the CIB (Credit Information Bureau) report will have to be verified to approve any amount of agricultural loan or extend the loan tenure.
Earlier, a CIB report was not required for agricultural and rural loans up to Tk2.5 lakh.
On Sunday (Mar 23), the Agricultural Credit Department of Bangladesh Bank issued a directive in this regard.
According to the directive, if a loan is disbursed without verifying the CIB report, the bank will not be able to know even if the customer takes multiple crop and crop loans of a maximum amount of 2.5 lakh taka from different banks.