BB reviewing loan defaulters' list for upazila polls
Friday, 19 December 2008
FE Report
The central bank is reviewing the list of loan defaulters, intending to contest the upazila election scheduled for January 22 next year, on the basis of information, provided by the banks concerned.
"Correction to the list is going on and will continue until Friday," Bangladesh Bank (BB) Executive Director Khandakar Muzharul Haque told reporters at his office Thursday.
The central bank of Bangladesh has so far identified 300 out of the total 9,961 candidates of the upazila election as loan defaulters and sent a list to the returning officers concerned across the country.
The BB has also sent the list of loan defaulters to the Election Commission (EC) for taking necessary measures, officials said.
Of the defaulters, 205 submitted nomination papers as chairman candidates, 87 for vice-chairman (male) and eight for vice-chairman (female), according to the executive director.
He also said a candidate having personal default loan would be eligible for contesting the election upon repayment of the overdue loan the day before the last date of submission of the nomination papers.
"We've no information yet that the defaulters went to court, seeking stay orders," the BB executive director said.
During the scrutiny of nomination papers, scheduled for December 17-19, the returning officers will look into eligibility of the candidates in the context of default loans. The last date for withdrawal of candidature is December 31.
Under the Local Government Upazila Ordinance 2008, a loan defaulter is not eligible to contest the election.
If anyone has a minimum outstanding loan of Tk 50,000, he is a sure candidate for inclusion in the report of the Credit Information Bureau (CIB) of the central bank, according to the existing provisions.
On the other hand, the commercial banks are also required to inform the election officials concerned of any default loan of Tk 50,000 against any polls aspirant, they added.
The commercial banks have already asked their regional and divisional offices for taking necessary steps to ensure presence of their high ups during hearing on the default loan cases.
The central bank is reviewing the list of loan defaulters, intending to contest the upazila election scheduled for January 22 next year, on the basis of information, provided by the banks concerned.
"Correction to the list is going on and will continue until Friday," Bangladesh Bank (BB) Executive Director Khandakar Muzharul Haque told reporters at his office Thursday.
The central bank of Bangladesh has so far identified 300 out of the total 9,961 candidates of the upazila election as loan defaulters and sent a list to the returning officers concerned across the country.
The BB has also sent the list of loan defaulters to the Election Commission (EC) for taking necessary measures, officials said.
Of the defaulters, 205 submitted nomination papers as chairman candidates, 87 for vice-chairman (male) and eight for vice-chairman (female), according to the executive director.
He also said a candidate having personal default loan would be eligible for contesting the election upon repayment of the overdue loan the day before the last date of submission of the nomination papers.
"We've no information yet that the defaulters went to court, seeking stay orders," the BB executive director said.
During the scrutiny of nomination papers, scheduled for December 17-19, the returning officers will look into eligibility of the candidates in the context of default loans. The last date for withdrawal of candidature is December 31.
Under the Local Government Upazila Ordinance 2008, a loan defaulter is not eligible to contest the election.
If anyone has a minimum outstanding loan of Tk 50,000, he is a sure candidate for inclusion in the report of the Credit Information Bureau (CIB) of the central bank, according to the existing provisions.
On the other hand, the commercial banks are also required to inform the election officials concerned of any default loan of Tk 50,000 against any polls aspirant, they added.
The commercial banks have already asked their regional and divisional offices for taking necessary steps to ensure presence of their high ups during hearing on the default loan cases.