Measures will be taken to curb defaulted loans

Law Minister Anisul Haque said that all kinds of measures will be taken with the aim of speedy settlement of the pending cases in the financial loan court to curb defaulted loans.

He said, 3 more will be established in addition to the existing 4 money loan courts in Dhaka. Besides, 2 more money loan courts will be established in Chittagong. If necessary, the number of courts will be increased.

He said these things in response to the questions of journalists after the inauguration of the 16th orientation course organized for the joint district and session judges and judges of the same level at the judicial administration training institute in the capital on Sunday (June 9) afternoon.

Meanwhile, the minister said that to continue the trend of development, the government wants to reduce the amount of defaulted loans, which is known as the enemy of a prosperous economy. Therefore, he advised the judges to follow the alternative dispute resolution method more effectively to settle the debtor case quickly, he said to the judges, unreasonable delay of the defendant should be prevented at the hearing stage of the case.

He said that there is a need for proper and regular coordination between the court, the chief executive officer (financial institution/banker) and Bangladesh Bank regarding taking disciplinary action according to the Financial Debt Court Act. At the same time the plaintiff/decree party needs to take necessary steps in time. Besides, it is necessary to ensure the accountability of banks or other financial institutions regarding the granting of loans and to ensure the liability of the plaintiffs in debt recovery.

Anisul Haque said that in the past 15 and a half years, the efficiency and capacity of the judicial department has increased as a result of practical and multifaceted actions of Sheikh Hasina's government. Judiciary has become very modern and dynamic.

Several other groundbreaking steps have been taken to increase the efficiency and capacity of the judiciary. One of which is the establishment of a world-class National Judicial Academy on 37.27 acres of land at Shibchar in Madaripur. 170 crore rupees have been allocated in the national budget for the next fiscal year 2024-2025 for the establishment of this academy.

It is expected that the foundation stone of the Judicial Academy will be laid in the next financial year after completing the land acquisition with this money. Besides, a plan to establish a world-class research institute in Cox's Bazar has been accepted at the initiative of Bangladesh Supreme Court. Sheikh Hasina has already allocated 3.34 acres of land for the establishment of this institute.

Comparing the budget allocation of judiciary department with other governments, the minister said, it is unbelievable but true that the BNP-Jamaat government and the caretaker government spent only Tk 1650 crore for law and judiciary department in 8 years from 2001 to 2008. And Prime Minister Sheikh Hasina's government has only allocated Tk 2022 crore for the law and judiciary department in the budget of 2024-2025 fiscal year. Apart from this, Tk 248 crore has been allocated for Bangladesh Supreme Court.

Bangladesh /FM