Bangladesh Bank has directed all financial institutions to rapidly update borrower loan information as election candidates rush to clear outstanding debts and avoid disqualification from the upcoming national polls. The Credit Information Bureau mandated accurate reporting of every account status, warning that court stay orders cannot be used to conceal loan irregularities or grant improper concessions to aspiring politicians and business leaders.
Banks must submit comprehensive data, including current balances, overdue amounts, and repayment records, while designating branch officers to coordinate verification with the central bank. Executive Director Arief Hossain Khan confirmed the directive aligns with government policy barring defaulters from contesting elections.
Electoral law disqualifies candidates whose accounts remain classified as irregular within seven days before nomination filing, prompting numerous loan regularization attempts by influential figures seeking to restore their eligibility through last-minute payments.
Banks must submit comprehensive data, including current balances, overdue amounts, and repayment records, while designating branch officers to coordinate verification with the central bank. Executive Director Arief Hossain Khan confirmed the directive aligns with government policy barring defaulters from contesting elections.
Electoral law disqualifies candidates whose accounts remain classified as irregular within seven days before nomination filing, prompting numerous loan regularization attempts by influential figures seeking to restore their eligibility through last-minute payments.
