Finance minister asks for info on irregularities in banks promising action

Finance Minister AHM Mustafa Kamal has asked for written complaints about any irregularities in banks, saying the government will look into the matter.

Seeking opinion on banks, the minister at the inauguration programme of House Building Loan Management Module at his secretariat office on Tuesday said, "We have brought changes everywhere needed. Even the way of budget presentation to the Parliament was changed. Everything has been digitised."

The finance minister made the comment after reporters drew his attention to loan fraud by some banks including Islami Bank after a report by The Business Standard titled "How a 24-year-old greenhorn is 'blessed' with a Tk900cr loan" shedding light on the massive irregularities of the country's largest private bank. 

Addressing the inauguration of the House Building Loan Management Module, Kamal said that the loan distribution policy for the public servants through the banking channel was formulated on 30 July in 2018 in order to ensure accommodation for government officials and employees in line with the directives from Prime Minister Sheikh Hasina.

Currently, the government officials and employees, teachers and other staff of the public universities and University Grants Commission (UGC), for the chief justice and other judges of the Bangladesh Supreme Court are reaping benefits of the house building loan facilities, said a Finance Ministry press release today.

The finance minister said if the loan appeal process could be digitised, it would resolve many problems and thus save time.

Once the digitisation of the loan appeal process is complete, applicants will be able to apply directly to the Finance Division online, the minister added.