Bangladesh Bank Executive Director and Spokesperson Husnay Ara Shikha said that earlier the information about defaulted loans was hidden. Now all the hidden information is being tried to be made public. It is being said that defaulted loans are 4 lakh crore or more. However, if the full information comes out, the amount of defaulted loans can be released by 6 lakh crore.

He gave such alarming information in a press conference on Tuesday (January 7).

Husna Ara Shikha said, at the moment we have no concern to show less defaulted loans. After the investigation is completed, the necessary steps to reduce defaults will be known.

He said Bangladesh Bank is trying to follow international rules regarding defaulted loans. This may also be a reason for the increase in defaulted loans. But whatever the information, we are now revealing everything that was previously hidden.

Meanwhile, the spokesman of the central bank expressed dissatisfaction with the achievements of the last five months in terms of bringing financial stability. Husnay Ara Shikha said, the good thing is that the financial scare has already passed. In the last five months, many initiatives have been taken to reorganize the board of commercial banks, form a banking task force, stabilize the dollar market and control inflation. While some benefits have been achieved through these initiatives by the central bank, some results will take more time. However, the financial sector is yet to fully stabilize. Because of this, Bangladesh Bank is not very happy.

Besides, regarding bringing back the money smuggled abroad, he said, by the end of this year, it will be clear about how much money has been smuggled through which bank and which country. Repatriation of smuggled money is a time-consuming process but designated agencies are working on the matter. They don’t share these things with us for security reasons.