In the banking sector of Bangladesh, exemptions from rules and regulations for powerful loan defaulters seem to be the default rules.
Troubled state-run lender Janata Bank continues to be overly lenient towards AnonTex Group, one of its five large borrowers, despite negligible loan recovery in 13 years from the garment manufacturer.
It certainly seems so from the actions of the Bangladesh Bank, as it has given AnonTex the green-light to take more loans from other state-owned banks, after it had borrowed Tk 5,500 crore from Janata Bank through serious irregularities, and defaulted on Tk 557 crore loans with the bank.
In the banking sector of Bangladesh, exemptions from rules and regulations for powerful loan defaulters seem to be the default rules.
Troubled state-run lender Janata Bank continues to be overly lenient towards AnonTex Group, one of its five large borrowers, despite negligible loan recovery in 13 years from the garment manufacturer.
It certainly seems so from the actions of the Bangladesh Bank, as it has given AnonTex the green-light to take more loans from other state-owned banks, after it had borrowed Tk 5,500 crore from Janata Bank through serious irregularities, and defaulted on Tk 557 crore loans with the bank.
