More judges sought for money loan courts

Expressing concern over the growing trend of bank loan defaults, experts at a major banking conference yesterday urged the government to appoint more judges to the Money Loan Court, a special court dealing with loan defaults, to make it more effective, reports UNB. "It takes huge time to settle a default loan case in a court. Default loan cases are increasing, but they are not being settled due to a shortage of judges," observed Mirza Azizul Islam, former advisor to a caretaker government, while speaking on the closing day of the International Conference for Bankers and Academics 2016.
The Bangladesh Institute of Bank Management (BIBM) organized the 2-day conference in association with the Australian Academy of Business Social Science.
Mirza Aziz said it is now a common phenomenon that many banks issue loans for their clients to run a particular business. But the clients ‘divert’ the loan for other purposes. "Finally, these loans become default".

More judges sought for money loan courts

Expressing concern over the growing trend of bank loan defaults, experts at a major banking conference yesterday urged the government to appoint more judges to the Money Loan Court, a special court dealing with loan defaults, to make it more effective, reports UNB. It takes huge time to settle a default loan case in a court. Default loan cases are increasing, but they are not being settled due to a shortage of judges, observed Mirza Azizul Islam, former advisor to a caretaker government, while speaking on the closing day of the International Conference for Bankers and Academics 2016. The Bangladesh Institute of Bank Management (BIBM) organized the 2-day conference in association with the Australian Academy of Business Social Science. Mirza Aziz said it is now a common phenomenon that many banks issue loans for their clients to run a particular business. But the clients divert the loan for other purposes. Finally, these loans become default.