The number of loan defaulters in Bangladesh is increasing because of cyclic order interest. For this reason loan interest is going to be simple from next budget. Finance Minister AHM Mustafa Kamal made these remarks on Monday while speaking to the directors of the state-owned commercial banks in the capital's National Economic Council (NEC).
AHM Mustafa Kamal further said that he would accept no recommendations about the appointment of banks' directors.Efficient people would be appointed for the post of directors in banks, he stated.AHM Mustafa Kamal added that steps would be taken to streamline banks and to eradicate the faults of different banks. All banks will be properly audited, he commented.
AHM Mustafa Kamal told during the meeting that it is essential to restore people's confidence on the banking sector. There will be no compromise with dishonest clients who have defaulted bank loans deliberately.AHM Mustafa Kamal also said that the banking arena is doing well. Banks have contributed to the GDP growth of Bangladesh.
The view exchange program was attended by, among others, Prime Minister's investment adviser Salman F Rahman, Bangladesh Bank's Governor Fazle Kabir and Asadul Islam, Secretary, Financial Institutions Division.
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