Bangladesh's banks asked to monitor large classified loans
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Dhaka, Bangladesh, July 23 -- The central bank of Bangladesh has asked the commercial banks to reduce their volume of classified loans through strengthening monitoring of such loan accounts amounting to BDT 1.0 billion and above.
Under the latest measure, all the banks will have to form special monitoring cell, headed by the deputy managing director (DMD) concerned, to monitor the loan accounts amounting to BDT1.0 billion and above, according to a notification, issued by the Bangladesh Bank (BB) on Monday.
Talking to the BBN, a senior BB official said the central bank has taken the fresh measure to reduce both the amount of default loans and the number of loan defaulters through boosting recovery of such loans.
The special monitoring c...
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