Prominent businessman Abdul Awal Mintoo today said that Bangladesh Bank Governor has assured private commercial banks of resolving their ongoing liquidity crisis within a short time.
“There are various problems in the banking sector. We have discussed these with the central bank governor and sought cooperation. The governor has assured us of all possible assistance so that the banks can manage their activities smoothly,” Mintoo said. He made the statement after a meeting with the Bangladesh Bank governor on Thursday, where they addressed the current crisis in the banking sector.
Mintoo, former president of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) and Chairman of National Bank Limited (NBL), emphasized the need for liquidity support from the central bank.
“We need as much liquidity support as possible within the framework of the banking law,” he said. “If Bangladesh Bank provides this support, our liquidity problem should be resolved by December.”
When asked about the challenges facing banks, Mintoo acknowledged that many institutions, including NBL, are struggling with default loans and cash flow issues. “NBL has the same problems that other banks are facing,” he noted.
Mintoo also highlighted NBL’s strategy to recover defaulted loans through legal action. “We will take the necessary steps, including going to court, to recover NBL’s defaulted loans.”
Responding to a question on interest waivers, Mintoo revealed that the issue had been discussed with Bangladesh Bank. “The central bank has waived interest, but we’ve also talked about potentially reversing this decision. Any resolution will be made in accordance with banking regulations,” he added.
