Dhaka, Feb. 5 -- Future acquisitions of houses or cars will be prohibited for willful loan defaulters, and they are also barred from initiating new business ventures, according to the latest guidelines unveiled by the central bank this Sunday.
Bangladesh Bank aims to limit default loans to below 8 percent of the country's total outstanding loans by June 2026 to uphold corporate governance in the banking sector.
During a press conference at its headquarters, BB Deputy Governor Abu Farah Md Nasser revealed that the banking watchdog has devised an action plan to foster sustainability in the banking sector. The new roadmap prioritizes strengthening the collection of defaulted loans and refrains from providing concessions to defaulters.
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