Loan defaults: Legal framework urged to cure `cancer`

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UNB, Dhaka :
Expressing concern over the growing trend of bank loan defaults, experts at a major banking conference on Monday urged the government to appoint more judges to the Money Loan Court, a special court dealing with loan defaults, to make it more effective.
“It takes huge time to settle a default loan case in a court. Default loan cases are increasing, but they are not being settled due to a shortage of judges,” observed Mirza Azizul Islam, former advisor to a caretaker government, while speaking on the closing day of the International Conference for Bankers and Academics 2016. The Bangladesh Institute of Bank Management (BIBM) organized the 2-day
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