Beximco Loan: BB failed to play its role | The Daily Star
12:00 AM, September 14, 2019 / LAST MODIFIED: 04:59 AM, September 14, 2019

Beximco Loan: BB failed to play its role

Says TIB about the central bank’s move to allow rescheduling

Terming the central bank’s move to reschedule a loan of Beximco Ltd an unprecedented instance, Transparency International Bangladesh yesterday said it proved that the Bangladesh Bank completely failed to play its regulatory role in the banking sector.

In a statement, TIB Executive Director Iftekharuzzaman said the reported move would not only diminish the BB’s credibility, but also would open floodgates of further similar compromises that, in turn, would further deepen the ongoing crisis in the country’s financial sector.

According to media report, the central bank is going to allow the rescheduling of Beximco’s Tk 430.05 crore demand loan following its request, although it was not supposed to get another chance to reschedule its loans.

Iftekharuzzaman said loan defaulters, irrespective of identity or status, cannot be allowed to dictate terms to the BB and get illegitimate extension for rescheduling loans.

“Taking the advantage of loan rescheduling, a section of the plunderers gets the opportunity to become lawmakers,” he said.

The graft watchdog called upon the central bank to have the courage to play its role for the sake of national interest and refrain from making any such move.

The TIB executive director said the state is reportedly starving for cash and in such a situation the BB cannot continue to protect loan defaulters and shift the economic burden on people.

“We reiterate our call upon the government to form a fully independent committee of experts consisting of reputed, independent and credible specialists to analyse the deepening crisis in the sector,” the TIB said.

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