Bangladesh Bank Headquarters

Dhaka, Bangladesh (BBN) – The central bank of Bangladesh has asked the banks to provide information on classified loans of the aspirants of the upcoming national election to the returning officials.

The Bangladesh Bank (BB), the country’s central bank, issued a directive on Thursday, asking the managing directors and chief executives of all the scheduled banks for complying with the instructions properly.

Taking to the BBN, a BB senior official said the central bank has taken the measure to prevent any loan defaulters from contesting in the parliamentary polls as per the electoral rules.

Under the existing rules, loan defaulters cannot participate in the national election.

The bankers have also been asked to collect necessary information of the aspirants from the returning officers, once the deadline for filling nomination paper ends on November 28, according to the circular.

Besides, information on default loans will have to be provided to the returning officers concerned on or before the day of scrutinising nomination papers, the central banker explained.

The bankers have also been directed to be present at the offices of returning officers while scrutinising the nomination papers, if necessary.

The 11th national election is scheduled to be held on December 30.

The central bank had already taken preparations to timely provide information on default loans to the authorities concerned through its Credit Information Bureau (CIB), the BB official added.

The CIB was set up on August 18, 1992 in the central bank to minimise credit risks through reducing the volume of default loans.