The New Nation - Internet Edition

Staff Reporter

Bangladesh Bank has instructed the commercial banks to use all possible means to realise the default loans ahead of the elections, Bangladesh Bank Governor Dr Salehuddin Ahmed said yesterday.

"We're always telling the bankers to realise the classified loans. It's their concern," he told a stipend distribution ceremony of Shahjalal Islami Bank Foundation at the Bangladesh China Friendship Conference Centre.

Speaking about awarding nomination to the loan defaulters, the Governor advised the bankers to go for appeal in the upper courts against the loan-defaulting candidates who submitted nomination papers after obtaining stay orders from the courts.

The prospective candidates of the parliamentary election have submitted nomination papers to the returning officers by November 30. The scrutiny of nomination papers is scheduled on December 3 and 4.

Many influential political leaders, who are loan defaulters, from two major political parties have submitted nomination papers to contest the general election slated for December 29.

Replying to a question after the meeting, Dr Salehuddin told reporters that the central bank has also instructed the commercial banks to ensure presence of their executives in case of any hearing on the loan defaulter cases.

As per the law, the loan defaulters are ineligible to take part in the election, but they will be given

opportunity to defend themselves during the hearing. Representation by the banks during the hearing would facilitate banks to establish their points.

"Use the opportunities to realize the classified loans through whatever means you can," the Governor told the bankers.

He also informed that the central bank would modernize its credit information bureau (CIB) to ensure latest information on defaulters as and when necessary.

Bangladesh Bank, he said, will send the defaulters' list to the Election Commission after the EC sends the list of candidates to the central bank.

Shahjalal Bank awarded stipends to 202 students of colleges and universities at the function, attended by the bank's Board of Directors and clients.