Bangladesh Textile Mills Association (BTMA), the apex platform of textile mill owners, will reportedly take actions against its members who were involved in loan scams as the real businesses of the sector are facing trouble in getting loans due to this.
‘It is unexpected that the businesses that have been in operation from the past 20-30 years are not getting the required fund from the banks whereas a businessman who is running business only for four years is getting BDT 5,000 crores from the bank,” said Mohammad Ali Khokon, acting BTMA President, while addressing a press conference at the association’s office in capital Dhaka on February 6, 2018.
Khokon also complained that the equivocation of laws caused agonies for the honest businesses as banks provide interest waiver to the defaulters and mount various pressures on the entrepreneurs who are making their payments regularly.
The trade association will now propose to blacklist those members and cancel their membership who are involved in loan scams.
Pertinent to mention here that a local newspaper earlier this week claimed that a state-owned commercial bank has disbursed BDT 5,504 crores to a single client – Anontex Group – which took the loan in the name of 22 sister concerns. As per the rules, a bank can disburse only 25% of its total capital to a single client but the amount is far higher than that, as the total capital of the bank is BDT 2, 979 crores.
The BTMA has also urged Government to take exemplary legal actions against those involved in the loan scams to remove the anxiety and bring back the faith over the banking sector.