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Bankers responsible for defaulted loans

  • Published at 01:05 am August 27th, 2017
  • Last updated at 02:29 am August 27th, 2017
Bankers responsible for defaulted loans
Finance Minister AMA Muhith has alleged that bankers are responsible for loan defaults as they always try to show their clients as defaulters to avoid being held accountable for loan defaults. “When a client approaches a bank for a loan, what comes first to bankers’ minds is how to show him or her as a loan defaulter. And, they do this to avoid being held responsible for loan defaults. This is a very bad culture in our banking sector,” he said. Muhith was addressing as the chief guest a workshop styled “State-owned banks and ways to tackle the prevailing challenges,” organised by Financial Institutions Division of the Finance Ministry in the Cirdap auditorium in Dhaka on Saturday. When a client seeks a loan, the bankers try to establish him or her as defaulter, he said. “Also, the bankers set terms and conditions in such a way that the client becomes a defaulter. Every bank does it. They try to show their clients as defaulters so that they need not shoulder the responsibility for loan defaults,” Muhith said, stressing the need for avoiding such tendency. He also said that overall financial condition of the country’s banks is not so good. It is a problem not only for the banking sector, but for the whole economy.” “…no bank has become bankrupt since the independence. We are running this sector in a transparent way,” the minister claimed. Md Eunusur Rahman, senior secretary to Financial Institutions Division, presided over the workshop. State Minister for Finance and Planning MA Mannan, Chairman of the Parliamentary Standing Committee on Finance Ministry Dr Abdur Razzak, Senior Secretary to Finance Division Hedayetullah Al Mamun and Bangladesh Bank Governor Fazle Kabir attended the event.
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