A special audit will be conducted into every bank for dishonest businessmen and bankers to find out who took loans and where the imported capital machinery were set up. Defaulting on a loan is a crime for anyone as it is public money while warning of strict actions against willful defaulters. There are two types of borrowers, one who takes loans with the intent of never paying back and the other who fails to pay back due to circumstances beyond his/her control. We want to know who the genuine businessmen are and who the dishonest ones are. Malaysia successfully brought discipline to its financial sector due to the strict rules and regulations where a list of defaulters is circulated to all agencies. Defaulters are barred from leaving the country.
Bangladesh should follow Malaysia’s practice. Good borrowers should be encouraged and bad borrowers should be punished. Dishonest businessmen will not be spared. Punitive actions will also be taken against the bankers helping the dishonest businesses. But if any businessperson fails to pay back loans due to genuine reasons, he will be treated with kid gloves. It seems that some people take loan in the name of export but the export proceeds do not come into the country. The same people are doing the same thing over and over again but banks are not looking at it. Strict action will have to be taken in such cases.