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SUNDAY, JUNE 15, 2025
Freeze wilful defaulters' accounts, seize assets: CPD to interim govt

Economy

TBS Report
29 January, 2025, 07:00 pm
Last modified: 29 January, 2025, 07:04 pm

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Freeze wilful defaulters' accounts, seize assets: CPD to interim govt

It also proposed comprehensive measures to restore discipline in the banking sector

TBS Report
29 January, 2025, 07:00 pm
Last modified: 29 January, 2025, 07:04 pm
Logo of Centre for Policy Dialogue (CPD). Photo: Collected
Logo of Centre for Policy Dialogue (CPD). Photo: Collected

The Centre for Policy Dialogue (CPD) has urged the interim government to immediately freeze bank accounts belonging to wilful defaulters and their family members, liquidating their assets and temporarily nationalising their businesses.

The think-tank made this call during its analysis of the Bangladesh Economy 2024-25: First Interim Review at its office today (29 January).

It also proposed comprehensive measures to restore discipline in the banking sector. 

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The recommendations include strengthening loan sanctioning practices, enforcing single-borrower exposure limits, halting repeated loan rescheduling, reinforcing internal controls, and formulating an exit policy for struggling banks — all of which should be spearheaded by the Bangladesh Bank.

"Given the strong vested interest groups, an all-out effort should be taken and continued, backed by political commitments from the highest level required to sustain banking reforms," said CPD in its analysis.

Reviewing the first half of Bangladesh's economy in 2024, CPD highlighted significant challenges that have emerged over recent years.

These include weak revenue generation leading to limited fiscal space, heavy dependence on bank borrowing to bridge budget deficits, tight liquidity in banks, soaring prices of essential commodities, declining investments, and shrinking foreign reserves — all of which have threatened macroeconomic stability.

Following the July mass uprising in 2024, the interim government has been tasked with tackling these critical economic challenges. CPD stressed that addressing these multifaceted issues requires a comprehensive approach—balancing short-term relief for the public, resolving deep-rooted economic problems, and implementing sustained reforms to strengthen financial fundamentals.

Given the ongoing economic situation, CPD stated that a coordinated approach is needed to overcome multifaceted challenges, stabilize the economy, and protect vulnerable, low- and limited-income households.

To steer Bangladesh's economy in the coming months, CPD urged the interim government to adopt a balanced and effective strategy that not only tackles immediate crises but also initiates medium- to long-term reforms, to be continued by the politically elected government.

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willful defaulters / Bangladesh / CPD

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