Sunday, November 17, 2019

FBCCI for exemplary punishment against loan defaulters

Monday, February 18, 2019 - 838 hours ago

Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) yesterday underscored the need for inflicting exemplary punishment to the illegal loan defaulters.

The business apex body made the demand at a discussion marking the national budget for the fiscal 2019-20 at the Dhaka Club in the capital.

FBCCI President M Shafiul Islam Mohiuddin presided over the discussion while directors and members of the FBCCI were present.

Shafiul Islam said strict actions will have to be taken against the loan defaulters who are out to borrow with an ill intention.

“There are two types of loan defaulters. Of them many belong to take loans with intention and they never return the loans,” he added.

Shafiul Islam said the existing rate of bank interest is not enough for making the business-friendly environment.

He urged the authorities concerned to take necessary steps for bringing the interest rate at a tolerable level.

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