CIB intensifies loan monitoring

Bangladesh Bank has instructed the banks to submit monthly output of every loan for ensuring proper monitoring and supervision of the advances.

The Credit Information Bureau (CIB) of the BB issued a circular on Thursday, asking the banks to submit monthly information of each loan to the credit information system (CIS) within the first 15 days of each month.

Seeking anonymity, a BB official said that with such submissions, the bureau will be able to do proper analysis of every loan like the repayment behavior of the borrowers.

"It will also help monitor each loan more rigorously. That's why it is important," the official said.

If the status of the loan changes like renewal, restructuring and rescheduling between two monthly submissions, the banks will upload those in the CIS counting the month of changes, said the central banker.

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