Tk 1,26,369 crore loans defaulted in March this year: finance minister

Finance Minister AHM Mustafa Kamal today told parliament that as of March this year, the amount of outstanding loans in the country was Tk 126,369 crore.

Apart from this, banks and financial institutions are unable to realize another Tk 21,046 crore due to High Court stay orders, he added.

The Minister said this while answering a question posed by the ruling Awami League MP, Mr. Abdul Latif.

He said the amount of overdue loans of all banks and financial institutions in the country in the CIB database till March 2022 is Tk 1,26,389 crore.

Highlighting the steps taken by the government to identify defaulting customers and bring them under the law, the finance minister said that legal action was being taken against the defaulting debtors.

The minister said that a defaulter of one bank cannot take out a loan from another bank. Banks have been urged to use alternative dispute resolution methods to recover loans.

He also said that the law on banking companies will be amended when intentional defaults will face various types of restrictions.

Responding to a question from elected ruling party MP for Jamalpur Abul Kalam Azad, the finance minister said there was no specific information on money laundering from Bangladesh.

It is very difficult to determine the amount of money laundered, he said.

He mentioned that various development agencies and research institutes use different methods to estimate the amount of money laundered in Bangladesh and abroad. Even these institutions do not demand its relevance, he added.

Reports from these organizations contain conflicting information on the amount of money laundered from Bangladesh.

However, the minister said, regardless of the level or amount of money laundering in the country, the government is committed to stopping possible sources of smuggling as well as preventing money laundering and bringing back the smuggled money in Bangladesh and all government agencies are working. together for this purpose.

Mustafa Kamal also said that the current government has been working hard to bring back the smuggled money since coming to power. Meanwhile, 20,41,534 Singapore dollars were returned on 20 November 2012 and smuggled into Singapore.

He said legal action was underway to recover the money from Bangladesh based on specific information.

In this case, he mentioned that the Bangladesh Financial Intelligence Unit (BFIU) had collected information from foreign financial intelligence agencies about money smuggled or smuggled and provided it to various intelligence agencies. investigation, including the Anti-Corruption Commission, the Bangladesh Police CID and the National Board of Revenue.

The Anti-Corruption Commission is currently investigating a number of cases involving the purchase of apartments or houses or the laundering of money by other means abroad (such as Singapore, Malaysia, Hong Kong, Australia, United Kingdom, United States and Canada).

In addition, Mustafa Kamal said, several trafficking-related cases filed by the Criminal Investigation Department (CID) of the Bangladesh Police are ongoing.

On the other hand, an interagency task force headed by the Attorney General is working to recover the smuggled money to bring the smuggled assets back to Bangladesh.