Written by The Banking Post
The Bangladesh Bank has directed that information on loan default cases filed in Money Loan Courts be submitted twice a year. The central bank’s Banking Regulations and Policy Department issued a circular in this regard on Monday (August 11).
According to the circular, banks must submit detailed information on cases filed and settled in Money Loan Courts and other courts twice annually — based on June 30 and December 31. Additionally, information on loans recovered through mediation without filing a case must also be submitted at the same time. The data must be provided in both hard copy and soft copy formats.
Bangladesh Bank noted that in the past, similar data had to be collected multiple times throughout the year, leading to unnecessary time and labor costs. The new reporting policy has been introduced to eliminate this complexity.
Furthermore, information on loan or investment write-offs will now only need to be submitted through the EDW portal, with no separate hard copy required. Similarly, post-import financing data will now only need to be submitted to the Department of Off-site Supervision, instead of multiple departments as before.
