Loan defaults stands Tk 65,602 crore: Muhith

Finance minister Abul Maal Abdul Muhith today told parliament that the amount of outstanding loan stood at Tk 6,06,503 crore while the amount of loan defaults stood Tk 65,602 crore.

“A total of 91 banks and financial institutions gave Tk 6,0 6, 503 crore loan to 8,791 individuals and organisations,” he said.

Of them, the number of loan defaulters is 1,956, he said while placing a list in parliament.

At least Tk 10 crore was given to each 8791 individual or organisation in the last 10 years, he said, adding that the list has been prepared by the Credit Information Bureau database of Bangladesh Bank as of November 2017.

The list containing the names of the all defaulters also shows that the amount of scheduled loan stood at Tk 72,050 crore.

Acknowledging the weaknesses in banking sector, finance minister said that it would take time to get rid of the flaws.

“There are many weaknesses in banking sector and the government has been trying to get rid of it. But it will not be easy to fix the problem, it will take time,” he said while responding to lawmaker’s queries.

Muhith in the list mentioned names of all 1,956 individuals and organisations which became top loan defaulters.

Names of Hall Mark Fashion Limited, Monno Fabrics Ltd, Keya Yarn Mills, Bismillah Towels, Wall-Mart Fashion Ltd, One Denim Mills Ltd, Al-Amin Bread and Biscuits Ltd, Biswas Textile Ltd, Meghna Vegetable Oil Industries Ltd, One Spinning Mills, Asian Food Trading and Company, Moon Knitwear, Quantum Power Systems Ltd, Azad Trading, North South Spinning Mills Ltd and Dandy Dying are among in the list of top loan defaulters.

In reply to another query, Muhith informed the House that process to take actions by the Anti-Corruption Commission against BASIC Bank and Sonali Bank loan scams have been underway.

On the corruption of Farmers Bank, Muhith said the central bank has instructed the newly formed board of directors of the bank to regain depositors’ confidence through taking special measures to recover loans given to name only organisations and to recover the other loans.

On the loan scam of NRB Commercial Bank, he said the Bangladesh Bank reconstituted the board of directors of the bank as the central bank found evidence of involvement of its board of directors in irregularities and corruption.

On the scam of AB Bank, Muhith said the ACC is investigating about the alleged money laundering of Tk 3000 crore in Singapore.

He also added that Bangladesh Financial Intelligence Unit has already taken measures to collect the evidence and information over the siphoning off money to Singapore.

Besides, on the allegation of making second home in Malysia, Muhith informed the House that BFIU has already given information to ACC after collecting information from Malaysian respective authority.