No room for dishonest people in SoB boards: Kamal

Staff Correspondent | Published: 00:00, Mar 14,2019


Finance minister AHM Mustafa Kamal speaks at Janata Bank’s annual general meeting held at the Krishibid Institution Bangladesh in Dhaka on Wednesday. Financial Institutions Division secretary Asadul Islam, Bangladesh Bank governor Fazle kabir and Janata Bank chairman Luna Shamsuddoha were present, among others. — New Age photo

Finance minister AHM Mustafa Kamal on Wednesday said unskilled and dishonest persons would not get any place in the boards of state-owned banks.
Identifying the unskilled and dishonest persons would not be a big task, he said while addressing the annual general meeting of state-owned Janata Bank at the Krishibid Institution Bangladesh in Dhaka.
He observed that activtiies of a dishonest person could overshadow the success of the whole team.
Musfata Kamal said that he had already talked to the prime minister about the issue.
‘If necessary, I will talk [to the PM] again,’ he said.
He reiterated his warning that dishonest bankers helping willful loan defaulters would be identified.
He admitted that the weakest area of the present government was the banking sector.
Mustafa Kamal said the state-owned banks would come under automation and a special audit would be run on them.
He asked the country’s banks to introduce the ‘Blockchain’ technology for reducing operating costs and ensuring security.
The finance minister expressed his high hope that the GDP growth rate in the current fiscal 2018-19 would reach 8.25 per cent.
Presided over by Janata Bank chairman Luna Shamsuddoha, the meeting was attended, among others, by Bangladesh Bank governor Fazle kabir and Financial Institutions Division secretary Asadul Islam.
Fazle Kabir asked the banks to show their real amount of default loans and provide all sorts of supports to the special auditors to accelerate the default loan collection process.
Janana Bank managing director Abdus Salam Azad in his inaugural speech said savings at the bank reached Tk 67,555 crore while advances Tk 53.371 crore at the end of 2018.
The number of loss-making branches of the bank decreased to 56.
Azad said that the defaulted loans in the bank increased because of a failure in debt payment by its big clients AnnonTex and Crescent Group.
The bank has already filed cases against Crescent Group to realise the money while measures have been taken to regularise the defaulted loans of Annon Tex.
According to FID, the overall bad loans of Janata Bank jumped to Tk 17,304 crore as of January, 2019 from Tk 14,436 crore as of September, 2018.
The entire loans worth Tk 3,572.98 crore given by the bank to five subsidiaries of Crescent Group became defaulted.
AnonTex has failed to clear debt against its loans worth over Tk 5,500 crore.
Azad, however, hoped that the bank would be able to reduce bad loans in the current calendar year.

More about:

Want stories like this in your inbox?

Sign up to exclusive daily email