The man eager to pay back his debt is becoming a rarity. Yet, he represents the hardworking, honest Bangladesh that can bring real change to the system.
The cabinet yesterday cleared the draft Bank Company (Amendment) Act, 2023 that would usher in major consequences for habitual loan defaulters and restrict the influence of families on the bank board.
The rise in the prices of goods has led to many people suffering from a silent famine.
Why is it that small debtors suffer while big defaulters walk free?
The term habitual defaulter is often thrown around casually, without any proper definition. But the government has now spelt out what habitual default is in a draft act, in what can be viewed as a commendable act by Finance Minister AHM Mustafa Kamal.
In a reversal of its stance, Bangladesh Bank yesterday paved the way for 11 large business groups to reschedule their loans even though they restructured their loans four years ago on condition of regular repayments.