• Saturday, Jan 19, 2019
  • Last Update : 02:10 pm

Mustafa Kamal: No more NPLs from today

  • Published at 11:15 pm January 10th, 2019
Planning Minister AHM Mustafa Kamal
File photo of AHM Mustafa Kamal Mahmood Hossain Opu/Dhaka Tribune

'Now NPLs have become a matter of grave concern, but it is still in a manageable stage'

Finance Minister AHM Mustafa Kamal on Thursday said there will be no non-performing loans (NPLs) from here onwards as Bangladesh Association of Banks (BAB) is going to take necessary measures to check the loans, reports BSS.

“Now NPLs have become a matter of grave concern, but it is still in a manageable stage. From today, NPLs will not increase and BAB will take necessary initiatives to cut the existing classified loans,” he told reporters after a meeting with BAB at the Planning Ministry in Dhaka.

BAB Chairman Nazrul Islam Mazumder and others directors of the association were also present at the meeting.

Kamal said the government will prepare a guideline to verify all the classified loans in the banking sector and take necessary steps for checking the loans.

“BAB will give us a list of loan defaulters, their borrowing amounts, and interest amounts. We will verify the list in line with data of the central bank and the Financial Institutions Division. Then, we will prepare the guideline and go for action,” he added.

Nazrul said BAB is going to take necessary steps against NPLs with support from the government.

“Compared to the neighbouring countries, the existing rate of NPLs is not a matter of concern for us. We’ll take all kinds of measures for reducing NPLs from today,” he said.

Nazrul said BAB will present the whole scenario of NPLs before the government within one month so that it can take further steps to cut the existing rate of NPLs.