Comprehensive measures will be taken to curb defaulted loans: Law minister
He advised judges to utilise the alternative dispute resolution system more effectively to expedite the settlement of loan default cases
All necessary measures will be taken to swiftly dispose of pending cases in money loan courts to curb defaulted loans, Law, Justice, and Parliamentary Affairs Minister Anisul Huq said today (9 June).
"In addition to the existing four money loan courts in Dhaka, three more will be established in the capital. Additionally, two new money loan courts will be set up in Chattogram. The number of courts will be increased further, if necessary," he said while talking to reporters after the inauguration of the 16th orientation course for joint district and sessions judges as well as judges of the same rank, at the Judicial Administration Training Institute in the capital.
The law minister stated that the government aims to reduce the amount of defaulted loans, which are considered detrimental to a prosperous economy, to sustain the development trend.
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He advised judges to utilise the alternative dispute resolution system more effectively to expedite the settlement of loan default cases.
He also emphasised the importance of preventing unnecessary delays by defendants during the hearing stage of these cases.
Referring to Section 46 (5) of the Money Loan Court Act, Anisul said there should be proper and regular coordination between the court, the chief executive officer of the financial institution or bank, and the Bangladesh Bank.
The plaintiff must take necessary steps in a timely manner, he said, adding that it is crucial to ensure the accountability of banks and other financial institutions in granting loans and to enforce the responsibility of plaintiffs in debt recovery.
He compared the budget allocation for law and justice division by different governments.
Anisul highlighted that the BNP-Jamaat government and the caretaker government spent only Tk1,650 crore on law and judiciary over eight years from 2001 to 2008.
On the other hand, Prime Minister Sheikh Hasina's government has allocated Tk2,022 crore for the law and justice division in the budget for 2024-2025 fiscal year, he noted.
Apart from this, Tk248 crore has been allocated for Bangladesh Supreme Court, he added.
