BB asks banks to open monitoring cell for classified loans

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Bangladesh Bank (BB) asked the scheduled banks to open ‘Special Monitoring Cell’, headed by Deputy Managing Director (DMD), for monitoring the classified loans amounting Taka 100 crore or above.

“Scheduled banks will have to monitor the classified loans amounting Taka 100 crore or above aimed at reducing the loans,” according to a BB circular issued here today.

The monitoring cell will take necessary steps to collect the classified loans amounting Taka 100 crore or above and reduce the number of classified loans.

The cell will submit quarterly progress report, “Quarterly Statement of Classified Loans amounting Taka 100 crore and above”, to its own bank board of directors and send to Banking Regulation and Policy Taskforce cell of the Bangladesh Bank through its web portal.

(BSS)