Sunday 16 February 2020

Can't keep my eyes on the banking sector: the Supreme Court

Can't keep my eyes on the banking sector: the Supreme Court


 The Supreme Court of the country has raised concerns over the current state of the banking sector.  The court also sought the financial status of the financial institution International Leasing and Financial Services Limited (ILFSL).

 Former Bangladesh Governor Khandaker Ibrahim Khaled and a central bank official, who are not below the rank of executive director, have been summoned to court on February 20, following the High Court's order.  They have to give ILFSL calculation in writing.

 The bench of four judges of the Appellate Division headed by Chief Justice Syed Mahmood Hossain passed the order on Sunday after hearing a petition filed by the International Leasing against the High Court order.

 The court said the situation in the banking sector was worsening day by day.  The government has sustained the banks with financial support.

 In this situation, we cannot close our eyes, the court said.

 In January, the high court ordered the government to seize the bank accounts and passports of several ILFSL officers.  Among them are Prashant Kumar Haldar, former managing director of NRB Global Bank and Reliance Finance Limited.

 ILFSL appealed by challenging the order.

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