The Microcredit Regulatory Authority has been ordered to provide a list of unlicensed lenders within 45 days. The finance secretary, the Bangladesh Bank governor, the executive vice chairman of Microcredit Regulatory Authority and the director general of the Department of Social Services have been ordered to respond to the rule. In a supplementary petition, lawyer Sayedul Haque presented data on loan sharks running their business with high interest rates on Sept 20, citing information from the Microcredit Regulatory Authority. The lawyer failed to provide the information but said that the authority can take legal action against the loan sharks according to the existing Microcredit Regulatory Authority law. “It’s a complicated issue and we need to see which authorities are involved with it and which laws are involved.”The High Court order was then issued on Monday.

Source: bd News24 September 27, 2021 07:07 UTC