Due to several external economic challenges, a five-member selection committee has been formed in Bangladesh Bank to offer policy support for reorganizing the businesses and financial operations of modified borrowers in response to various problems.
From Bangladesh Bank, the Ministry of Finance, and the private sector, the committee contains representatives. The panel is composed of Mezbah Ul Haque, Executive Director of the Off-site Supervision Department at Bangladesh Bank, with Dr. Delwar Hossain, Joint Secretary of the Financial Institutions Division; Mamun Rashid, Economist; and Abdul Haque, Business Representative from Haq’s Bay, as members, while Shahriar, Director of the Banking Regulation and Policy Department, serves as the member secretary.
In Bangladesh, several businesses have faced financial drawbacks owing to factors outside their control, consisting of the COVID-19 pandemic, the Russia-Ukraine war, global economic downturn, floods, and political disruptions.
Based on the officials the outcome and ensure to diminish loan recovery, the newly organized panel will recommend necessary policy approaches to rebuild affected businesses, ensuring, their viability and profitability.
Source: The Financial Express
