Staff Reporter :
The High Court on Monday fixed November 3 to deliver the judgement on a writ petition filed challenging a Bangladesh Bank (BB) circular that allowed the defaulters to reschedule their loans with a repayment period for 10 years and get further loans.
The HC bench of Justice J B M Hassan and Justice Md Khairul Alam passed the order after concluding the hearing on Monday.
Advocate Ajmalul Hossain, Barrister Shameem Khaled and Barrister Muniruzzaman took part in the hearing on behalf of BB, Advocate Manzill Murshid stood for the writ petitioner organization, Human Rights and Peace for Bangladesh (HRPB) and
Advocate Palash Chanra Roy appeared for Bangladesh Association of Banks (BAB).
Meanwhile, Bangladesh Bank’s Banking Regulation and Policy Department (BRPD) Joint Director Mahmudun Nabi submitted a statement through his lawyer in the High Court yesterday during the hearing.
Bangladesh Bank authorities said that if the defaulted loans are not rescheduled, the industries, factories and businesses of the borrowers will be closed, employees will be jobless, production of the country will be reduced and the wheel of the economy will be slower.
For keeping up the wheel of the economy running, the central bank has issued the circular for the public interest, stated the central bank.
The BB statement said that the willful loan defaulters are not eligible to avail the benefits under the circular. So there is no way for the misuse of the circular providing benefits to the wrong persons.
“The circular gave privileges to a certain class of borrowers who has been defaulted unintentionally and due to unavoidable and beyond control reasons and thus the circular does not make any discrimination to other classes of borrowers who are regularly paying their loans and as such the circular is lawful and maintainable,” also read the statement.
Advocate Palash Chanra Roy submitted a new statement in the HC on behalf of Bangladesh Association of Banks. In the statement they said that the petitioners do not have any jurisdiction (locus standi) for filing the writ petition as Public Interest Litigation.
Following a writ petition filed by Human Rights and Peace for Bangladesh (HRPB), a rights organization, the same HC bench on July 23, 2019 issued a rule asking the authorities concerned of the Bangladesh Bank and the government to explain in 10 days as to why the circular issued on May 16 giving privilege to the loan defaulters should not be declared illegal.
The High Court on Monday fixed November 3 to deliver the judgement on a writ petition filed challenging a Bangladesh Bank (BB) circular that allowed the defaulters to reschedule their loans with a repayment period for 10 years and get further loans.
The HC bench of Justice J B M Hassan and Justice Md Khairul Alam passed the order after concluding the hearing on Monday.
Advocate Ajmalul Hossain, Barrister Shameem Khaled and Barrister Muniruzzaman took part in the hearing on behalf of BB, Advocate Manzill Murshid stood for the writ petitioner organization, Human Rights and Peace for Bangladesh (HRPB) and
Advocate Palash Chanra Roy appeared for Bangladesh Association of Banks (BAB).
Meanwhile, Bangladesh Bank’s Banking Regulation and Policy Department (BRPD) Joint Director Mahmudun Nabi submitted a statement through his lawyer in the High Court yesterday during the hearing.
Bangladesh Bank authorities said that if the defaulted loans are not rescheduled, the industries, factories and businesses of the borrowers will be closed, employees will be jobless, production of the country will be reduced and the wheel of the economy will be slower.
For keeping up the wheel of the economy running, the central bank has issued the circular for the public interest, stated the central bank.
The BB statement said that the willful loan defaulters are not eligible to avail the benefits under the circular. So there is no way for the misuse of the circular providing benefits to the wrong persons.
“The circular gave privileges to a certain class of borrowers who has been defaulted unintentionally and due to unavoidable and beyond control reasons and thus the circular does not make any discrimination to other classes of borrowers who are regularly paying their loans and as such the circular is lawful and maintainable,” also read the statement.
Advocate Palash Chanra Roy submitted a new statement in the HC on behalf of Bangladesh Association of Banks. In the statement they said that the petitioners do not have any jurisdiction (locus standi) for filing the writ petition as Public Interest Litigation.
Following a writ petition filed by Human Rights and Peace for Bangladesh (HRPB), a rights organization, the same HC bench on July 23, 2019 issued a rule asking the authorities concerned of the Bangladesh Bank and the government to explain in 10 days as to why the circular issued on May 16 giving privilege to the loan defaulters should not be declared illegal.
