The total interest waiver for the month of April amounted to Nu 1.2bn. And 50% is borne by the government. The highest interest waiver was borne by Bank of Bhutan with over Nu 320 M followed by Bhutan National Bank with over Nu 268 M.
Following His Majesty’s Address to the nation on 10th April, the central bank in collaboration with the financial service providers waived off interest payments for three months. Fifteen financial service providers waived off their interests. Bank of Bhutan, Bhutan National Bank and Royal Insurance Corporation of Bhutan has the highest interest waiver for the month of April.
Of all the beneficiaries, the housing sector, and service and tourism benefited the most. Housing sector with over 16,000 loan accounts benefited immensely with interest amounting to over Nu 300 M in April.
Service and Tourism sector with over 4000 loan accounts benefited with over Nu 290 M.
Meanwhile, the finalisation of the interest waiver for the month of May and June will be completed by the end of this month.
Tshering Dendup
