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In response to this criticism, he said, in this case no one has been forgiven the debt, only the deadline for payment of the installments has been extended.
Bangladesh Bank had suspended the loan classification from January to June due to the coronavirus epidemic. The epidemic has dragged on for another three months.
When the finance minister attended the virtual press conference after the meeting of the Cabinet Committee on Economic Affairs and the Cabinet Committee on Government Procurement on Wednesday, he was questioned.
“It just came to our notice then. I didn’t spare the money. We will get the money. But I have extended the time.”
Many are opposed to the decision to grant a third installment to defaulters.
Debt again in arrears, ‘anarchy’ in the banking sector
However, defending the decision, the finance minister said: “If we create obstacles right now without extending the time, the export orders cannot be implemented.” We still cannot get rid of imported LCs.
“As soon as the loan is classified, its normal activities will be interrupted. At the moment we do not believe that it is correct.”
Public and private banks say the decision is hurting their income.
Enye Mustafa Kamal said: “The problem is not just income, many problems have been considered. Now if something happens one way or another, someone will be hurt. But now we are in favor of the merchants of greater interest. I think if the merchants are good, the banks will be good too. “
“All the banks have done well last year, thank you,” he said. The balance of all is much better. The number of delinquent loans is also low. I think this is the time to help your clients.
“Banks will benefit at the end of the day if the customer benefits in any way. Bangladesh Bank is not giving them any trouble classifying them. So there is no reason to affect your business. ”
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