Post of bank director should be canceled in case of default: Dr Mirza Azizul

Eminent economist Dr AB Mirza Azizul Islam said that to collect defaulted loans from the directors of private banks, their directorship should be canceled. If necessary, the property of these debtors should be confiscated as well.

He expressed this opinion while speaking to a Bengali daily on Wednesday.

He said Bangladesh Bank can do this to collect loans from bank directors.

Most importantly, banks need to seize the properties that are mortgaged to recover the defaulted loans of the directors.

The former adviser of the caretaker government said, the matter has now created a strange situation. It seems that I am the director of a bank and took a loan from your bank. You are the director of that bank when you took a loan from my bank. You didn't pay my bank loan, while I didn't pay your bank loan. This is how it goes.

Dr AB Mirza Azizul Islam said that political will is needed to collect defaulted loans. There should be no interference while taking action against defaulters.

He further said that action should be taken against the defaulters, be it in the lower courts or through ordinary judicial proceedings.

When the trial starts, it is seen that a writ is filed in the High Court and the whole process is stayed. But it should not continue for an indefinite period of time. You have to get out of this trend. The Ministry of Finance and Bangladesh Bank should take necessary assistance of Chief Justice in this regard.