Banks gave loans to Beximco Neighborhood and S Alam Neighborhood within the past honest basically basically based totally on their balance sheets with out checking the two conglomerates’ resources, acknowledged Vitality, Energy and Mineral Sources Affairs Adviser Muhammad Fouzul Kabir Khan this day (30 November).
“Earlier than approving loans, banks on the total review a firm’s balance sheet as one more of taking a ogle at resources. Such choices are additionally taken throughout lunches and dinners,” he acknowledged.
Keeping with that machine, “banks didn’t test Beximco and S Alam’s resources and only reviewed their balance sheets sooner than approving loans. That’s the reason no money would possibly be present within the bank accounts of the two groups now. All are empty,” the adviser added.
He made the remarks while addressing a seminar, titled “Mercurial Transition to Renewables: Role of Domestic Monetary Institutions”, organised by the Financial Newshounds’ Dialogue board (ERF) in Dhaka.
Fouzul acknowledged recurring entrepreneurs can no longer support such lunches or dinners as the entrepreneurs of the renewable energy sector pause. “For this reason, frequent entrepreneurs pause no longer get loans with out declare.”
He informed the banks to approve loans basically basically based totally on the resources of a firm or an individual.
At some stage within the now-ousted Awami League’s 15-365 days rule, Beximco Neighborhood and connected firms took entire loans of Tk36,865 crore from seven banks within the country.
At some stage within the identical interval, S Alam Neighborhood and its affiliate firms took out Tk 95,331 crore between 2017 and June 2024 from six banks, with seventy 9% of the sum coming from Islami Monetary institution.
