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Debtors cannot buy new houses and cars

by Afonso
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Willful defaulters cannot buy new houses and cars. Can’t open a new business. To reduce defaults, the central bank has announced a roadmap with all such decisions. Through this, the agency aims to bring down the NPL ratio to eight percent by June 2026. Abu Farah Mohammad Nacher, Deputy Governor of Bangladesh Bank, gave this information in a press conference on Sunday.

As of September 2023, the total amount of defaulted loans in the country’s bank sector is Tk 1 lakh 55 thousand 397 crores. Which is 9.93 percent of the total disbursed loans.

By ensuring good governance, Bangladesh Bank approved a roadmap to bring down the NPL ratio of the banking sector to 8 percent. In this, it is planned to strengthen the collection of bad debts, not to give concessions to defaulters. Besides, by ensuring good governance in the banking sector, Bangladesh Bank wants to reduce to zero the loans given outside the limits, loans related to benami interests and loans given through fraud.

Abu Farah Mohammad Nacher, Deputy Governor of Bangladesh Bank, said that the roadmap has also mentioned the formulation and implementation of necessary policies to take action against willful defaulters. For this, it is also said to introduce special allowances for the officers who have defaulted loans.

Abu Farah Mohammad Nacher also said that a customer will not be given the opportunity to borrow more than what he can take now. Weak banks will be merged with good banks. Through this, the board of directors of the banks will be strengthened, the capital shortage will be eliminated.



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