Bangladesh Bank intervenes over commercial lender
Central bank prohibits new loans and oversees appointments, saying it has found "irregularities"
Bangladesh’s central bank has ordered a commercial lender – owned by a controversial family business group – to cease new lending.
The central bank cited regulatory breaches and irregular lending at National Bank Ltd, according to reports in the country’s local media
Bangladesh Bank said NBL’s alleged misconduct relates to both the size of its loan portfolio and procedural irregularities. The central bank said NBL has been lending funds without the approval of its board.
Local newspaper Proth
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