Dhaka: 1:30 PM, Mon, 27 May, 2019

Committee being formed to review loan defaults

A K Azad : risingbd.com
Publish on: 2019-02-19 9:43:18 PM     ||     Updated: 2019-02-20 11:55:11 AM

KMA Hasnath: The Finance Ministry is mulling to form a committee to set courses for recovering defaulted loans.

The five-member committee will be named as ‘Loan Default Review Committee’.

Earlier, an announcement was made to form a high task-force in this regard.

According to sources, “Finance Minister A H M Mustafa Kamal expressed his boldness against loan default in a meeting after he assumed office in the ministry. He also directed the officials concerned to take stern actions in this regard.”

“At that time, the ministry thought to form a task-force. But, now a loan default review committee is being formed instead of the task-force,” the source added.

The sources further said, “The committee will be led by a deputy director of Bangladesh Bank (BB). Deputy governor Ahmed Jamil’s is being heard as the chief of the committee. Two more officials will be selected as members of the committee from the financial institution division and banking sector each.”

“The committee will also work to find out the ways of getting rid of decreasing loan default practices,” sources said.

risingbd/Dhaka/February 19, 2019/Hasnath/AKA