MoF may ask banks to deal with their clients neutrally

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Shakhawat Hossain
The Ministry of Finance (MoF) is likely to instruct commercial banks to maintain its relations with their clients neutrally, official source said.
The MoF has already sought approval from Adviser Mirza Azizul Islam in this connection as part of its initiative towards a coordinated effort to sustain growth, create employment and check corruption.
According to the MoF proposals, the commercial banks should not consider corruption charges or criminal offences against directors or owners while maintaining their relations with companies.
The commercial banks take into consideration the contribution of the companies to the national economy in their transactions.
In its proposals, the MoF said commercial banks have nothing to do with the criminal and corruption charges against any owner or director of any business group or house.
"The commercial banks should deal with loan classification, issuance of new loan, opening of LCs of such companies or houses from a neutral point of view," said the MoF proposal.
The proposal added that commercial banks will run its activities on the basis of bank-customer relations and should not link corruption and criminal charges against their directors and owners.
The move has been taken when the country's two conglomerates --Basundhara and Beximco -- appealed the MoF to save their industrial and business units which have already been affected due to current anti-corruption drives.
One of the conglomerates said in its appeal that it has seven industrial units including cement, paper, steel and tissue paper providing employment to 8000 people.
The MoF pointed out that it was part of the ministry's duties to safeguard the industries and employment besides ensuring trial of suspected and fugitive entrepreneurs.
"Otherwise, a large number of people will go jobless and the country's economy will be adversely affected," said the proposal.
Sources in the MOF said they are hopeful of getting positive response from the adviser and may send the instruction to the commercial banks shortly.
Already the central bank has given directives to the commercial banks not to harass businesses to help restore confidence in them, which has been shaken by the anti-corruption drive.