BB to provide loans with low interest for creative publishers

Bangladesh Bank (BB) said on Tuesday that from now on scheduled banks and non-bank financial institutions would be able to disburse loans from a Tk 600-crore BB fund to the micro and small enterprises dedicated to publishing knowledge-based and creative books and their marketing.

The BB issued a circular to managing directors and chief executive officers of all banks and NBFIs saying that the publishers would be able to receive loans with an interest rate of 10 per cent from the banks and the NBFIs under the BB refinance fund.

bbThe banks and the NBFIs will be allowed to disburse 100 per cent refinance fund to the publishers, the circular said.

The banks and the NBFIs will get loans with an interest rate of five per cent from the fund and they will have to give the loans to the publishers at highest 10 per cent interest.

A BB official told New Age that a publisher would be able to get loan highest Tk 50 lakh from a bank or a NBFI under the BB refinance fund.

Any write-up which contravenes the country’s culture, tradition and history or goes against any race, religion and clan or hurts any group of people will not be considered as a creative writing for the purpose of financing, the BB circular said.

Creative publishers who are members of Bangladesh Gayan O Srijonshil Prokashok Somity or any other such organisations will apply to the banks or the NBFIs to get loans under the BB fund, the circular said.

The members of the recognised associations will have to apply for loans with recommendations from the authorities of their respective associations, it added.