SME Bank has launched its ‘loan remission Ramazan package’ to help borrowers to settle their loans and outstanding liabilities.
Ihsanul Haq Khan, executive vice president and head of recovery, SME Bank said that the total recoverable loans under the package stood at Rs 13 bn (US$ 217m) from 49,000 borrowers.
He said, under the package, all cases where loans had been disbursed up to 2001 would be eligible.
He said that applications for loan relief package would be received till 15 November at various branches and area offices. Mr Khan said that the restructuring process of SME Bank would be completed by the year 2006. He said that 700 employees had left the services under golden handshake scheme.
