DHAKA:   There will be no Non-Performing Loan (NPL) from now on as Bangladesh Association of Banks (BAB) is set to take necessary measures to check this sort of loans, said Finance Minister AHM Mustafa Kamal.  

The newly appointed minister told reporters after a meeting with BAB at the Planning Ministry in the capital on Thursday (January 10).

“NPL is one of our grave concerns. We had a discussion with BAB on NPL. We’ll verify NPL, and then action will begin. However, NPL hasn’t increased that much, it is still in a manageable position,” Mustafa Kamal said.

“That being said, I tell you with conviction that rate the will gradually decrease in future,” Mustafa Kamal also said.

The rate of NPL, Mustafa Kamal further said, is 11-12 percent. This rate is lesser than other countries. NPL is higher than us in India. Interest rate in banks will decrease if NPL decreases. So, it will not be allowed to go up.

“We will take legal action against loan defaulters. Many are doing good business with the bank's money, but they cannot repay the bank loans as their business collapsed suddenly. We will figure out how we can provide these businessmen with facilities,” said BAB Chairman Nazrul Islam Mazumder.

BDST: 2142 HRS, JAN 10, 2019

AH/SMS