KARACHI: The State Bank of Pakistan (SBP) has asked Microfinance Banks (MFBs) to accommodate the requests of rescheduling / restructuring of loans from borrower via authorized email address or call centers.
According to the central bank, some policy measures were introduced for MFBs to provide regulatory to dampen the effects of Covid-19.
Now, in order to enable MFBs in extending relief measures to the affected borrowers some additional relief measures have been taken to facilitate the MFBs borrowers.
In order to facilitate microfinance borrowers to avail the deferment of principal repayment or rescheduling / restructuring of loans, microfinance banks shall accommodate the requests via borrower's authorized email address or call centers equipped with recorded lines for borrowers calling from or contacted by the microfinance bank on their registered numbers.
Further, each NPL category has been extended by 2-months for borrowers who could not avail relief under the scheme.
However, this facility will stand expired on March 31, 2021.
Copyright Business Recorder, 2020
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