Dhaka, Bangladesh (BBN)- The central bank of Bangladesh has planned to introduce an online monitoring system for large loan disbursements by banks to make the entire process more transparent.
"We're going to issue a circular this week asking executives of all commercial banks to send us all information about large loans using this software," a senior official of the Bangladesh Bank (BB) said.
He said the central bank has already completed installation of especial software-large loan monitoring software-to get all information about the recipients and disbursements of large loans by commercial banks.
The new system will help the central bank know about the disbursement of loans, overall status of loan recipients and whether they are using the loans for right purposes or not, the BB official said, adding that the central is currently monitoring such loans manually.
BBN/SSR/AD-11Mar13-9:55 pm (BST)
