DHAKA, March 13 (Xinhua) -- The central bank of Bangladesh has introduced strict measures for wilful loan defaulters in the country.
Bangladesh Bank (BB) said the decision is aimed at restoring people's confidence in the banking sector in the face of escalating defaulted loans.
BB also directed scheduled banks to establish dedicated units within their organizations by April 9 to scrutinize and identify those deliberately defaulting on loans.
The directive, detailed in a circular released on Tuesday, outlines stringent measures against such defaulters, including travel bans, revocation of trade licences, and suspension of company registrations. ■