BB seeks wilful defaulter list with identities

Bangladesh Bank has instructed all banks to submit comprehensive information on wilful defaulters in a separate format.

"It is mandatory to include all relevant details, including the names and identities of wilful defaulters," the central bank stated in its directive, reports UNB.

The Banking Regulation and Policy Department of Bangladesh Bank issued the notification with immediate effect on Wednesday.

Banks are required to submit information to the Credit Information Bureau (CIB) of Bangladesh Bank every quarter.

Previously, a similar directive was issued on March 12, 2024, which asked banks to report on the actions taken against wilful defaulters. The latest directive introduces further amendments regarding the reporting process.

According to the new circular, three specific instructions have been outlined for reporting wilful defaulters to the central bank:

First, once banks identify and finalise wilful defaulter borrowers, their details must be submitted to the CIB of Bangladesh Bank. These borrowers should be categorised as 'wilful defaulters' in the CIB records.