Tk 13 crore interest waiver for 10,000 investors

DHAKA: The government decided to waive off Tk 13 crore interests on margin loans for 9,978 investors of Investment Corporation of Bangladesh (ICB) who suffered financial losses due to the recent stock market collapse.

The decision was finalized at the board meeting of ICB, sources confirmed the matter to bangalanews Thursday.

Managing Director of ICB M Fayekuzzaman told banglanews, “The board meeting has finally approved the interest waiver on margin loans for small investors.”

On November 27, a six-member probe committee was formed aimed to prepare scheme for protecting interest of investors.

The government announced to waive off 50 percent interest on margin loans for small investors on March 4.

The authorities concerned identified small investors who invested up to Tk 10 lakh in the country’s capital market.

BDST: 2220 HRS, MAR 22, 2012

Edited by: Newsroom Editor Shahin Afroz/ Asst Output Editor M. Mahbub Alam