2024-09-20 07:04:10
Published: 11:21, 18 September 2024
Governor of the central bank. Ahsan H. Mansoor (file photo)
Some foreign banks are apprehensive about giving confirmation of letter of credit (LC) after the change of government. In this situation, the governor of the central bank regarding the payment of LC liability of foreign banks. Ahsan H. Mansoor said, Bangladesh has never defaulted. In the future there will be no problem in paying the liabilities of LC, the liabilities will be paid.
In a special virtual meeting titled ‘Meet the Governor’, the governor of the central bank assured the foreign banks in this way to solve the problems caused by the loan. Ahsan H. Mansoor. The meeting was held on Tuesday with the representatives of ABB and foreign correspondent banks. 122 people participated in this meeting. Various steps taken by Bangladesh Bank to reform the banking sector were highlighted in the meeting.
The governor said that various steps have been taken to reform the banking sector. The board of directors of some banks has been restructured. Various steps are underway to solve the problem of banks facing liquidity crisis. People’s confidence has started to return. Expatriate income has started to increase. Reserves have already started to improve. All dues will be paid promptly.
Bangladesh Bank’s Executive Director and Spokesperson Husnay Ara Shikha said that foreign correspondent banks want to know from the governor how to pay the debts owed by foreign banks to the government and government banks. Then the governor said that 80 million dollars have already been paid. In the next 5 to 6 months all overdue foreign liabilities will be cleared.
After the change of government, there is apprehension among some foreign banks about giving confirmation of loans. Some Dubai-based banks put a hold on giving confirmations against loan documents. Against their assurance, there is uncertainty as to whether they will get the money on time or not. In particular, foreign banks did not want to take loans of banks whose boards of directors had been restructured. In such a situation, the governor is assuring that there will be no problem in paying the debt.
NF/Rafiq