Kamal warns bank loan defaulters, money launderers of tough times

Finance Minister AHM Mustafa Kamal has warned that no bank defaulter and money launderer will be spared.

He said stern actions will be taken against the accomplices for looting money from the banks.

The minister’s warning came at the annual business conference of Rupali Bank at the Krishibid Institution in Dhaka on Wednesday.

There are genuine businessmen and dishonest businessman in Bangladesh, according to him.

"Those who take risks to do businesses in the country are businessmen. They repay their loan in time. They take the country's economy forward. But they stumble occasionally. All businesses have hassles. I think it should not be right to put honest businessmen in the same bracket with the dishonest businessmen. "

The minister explained, "Dishonest businessmen are those who take loans but do not repay. They don’t mean to pay back. There is no concession for them. They will not be spared.”

"Not just the dishonest businessmen, but we will also take action against those who aid them."

The minister said the real businessmen will be facilitated so that they can contribute to the economy.

Crescent Group Chairman MA Kader was arrested on charges of laundering of around Tk 9.2 billion abroad on Jan 30.

Three cases have been started against him, four directors of the group and 13 officials of the Janata Bank at Chawkbazar Police Station over transferring the money through three sister concerns of the group.

The finance minister came down hard on bank officials.

"They were the same people and the same group who took money from the banks again and again using different names and citing same reasons, but we did not think even for once that whether they repaid the previous loans.”

“Drastic action will be taken against them," Kamal announced.