Defaulter AnonTex lobbies for fresh loan

Shakhawat Hossain | Published: 00:03, Aug 21,2018 | Updated: 00:25, Aug 21,2018

 
 

AnonTex Group is lobbying hard for fresh loans although it has already defaulted on credit of over Tk 5,500 crore extended by state-owned Janata Bank.
Officials said that the errant group led by its chairman Md Younus (Badal) met finance minister AMA Muhith at the ministry on Monday with plea for fresh loan.
Janata Bank chairperson Luna Shamsuddoha and its managing director Md Abdus Salam Azad were present during the meeting.
A former Bangladesh Bank governor said that the finance minister should not entertain a defaulted borrower since it had many political implications.
AnonTex Group was allegedly extended loans of Tk 5,504 crore by Janata Bank over the last six years to 22 of its business entities breaching the single borrower exposure limit.
The group became defaulting on regular instalments, creating big trouble to the bank.
Muhith told reporters after the meeting that AnonTex alleged that Janata Bank was not entertaining its demand for loan.
The group was facing shortfall in working capital, he said.
The bank officials told Muhith at the meeting that AnonTex was yet to reply Janata Bank’s queries as per Bangladesh Bank directives with the proposal for fresh loan.
The group is already a loan defaulter, they said.
Muhith said that he asked AnonTex to reply to the queries of Janata Bank so that discussion could be held later on, if necessary, involving the central bank.
Janata Bank chairperson Luna Shamsuddoha and managing director Md Abdus Salam Azad declined to talk about the outcome of the meeting.
Former Bangladesh Bank governor Salehuddin Ahmed said that the finance minister should avoid the meeting as it might give wrong signal to the regulators.
He noted that the central bank might face pressure to apply its rules while scrutinising the plea for the fresh loan.
In June, the government provided Tk 400 crore as bailout fund to Janata from the budget to meet its capital shortfall in addition to Tk 1,214 crore given earlier in different instalments.
Centre for Policy Dialogue and Transparency International Bangladesh have been criticising the government for providing bailout fund for the scam-hit banks.
They noted that the government was putting public money into black holes.

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