“They (defaulters) will get rid of the loan defaulters’ list by them paying just 2% and their names will not be in CIB (Credit Information Bureau). According to the circular, defaulters will have to apply for the facility within 90 days of the circular’s issuance. It also said loan defaulters could enjoy a “One Time Exit” facility by paying only the bank's cost of funds and the principal loan amount. To avail this facility, defaulters will have to pay the outstanding amount within a year. Earlier, on February 13, the court also asked the authorities concerned to submit a list of loan defaulters and money launderers over the the last 20 years.

Source: Dhaka Tribune May 21, 2019 15:15 UTC