RJSC seeks info on default loan status from BB

The Office of the Registrar of Joint Stock Companies and Firms (RJSC) has sought information on default loans urgently from the central bank for checking loan portfolio of aspirant directors of registered companies.
The issue was discussed at a meeting held Wednesday among the Bangladesh Bank (BB), the Bangladesh Securities and Exchange Commission (BSEC), the RJSC, the Insurance Development and Regulatory Authority (IDRA), the Micro-credit Regulatory Authority (MRA), the Department of Cooperatives (DoC) and the Bangladesh Telecommunication Regulatory Commission (BTRC).
The meeting was held at the central bank headquarters in the capital with BB Governor Fazle Kabir in the chair.
At the meeting, the RJSC sought information on default loan from Credit Information Bureau (CIB) of the BB urgently to verify classified loan status of possible directors of new companies that applied for registration, according to meeting sources.
They also said the central bank initially agreed to provide the information on default loan from its CIB to the RJSC as it is done for the Election Commission.
However, the BB will examine the overall proposals of the RJSC, a BB senior official told the FE after the meeting.
Under the existing provisions, any outstanding loan worth Tk 50,000 or above is included in the CIB reporting system.
The CIB was set up on August 18, 1992 at the central bank aiming to improve credit risks and reduce the extent of default loans.

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