HC for actions against illegal lenders

The High Court has asked Bangladesh Bank to take legal actions against unauthorised institutions and people involved in lending money on usurious interest rates across the country.

The bench of Justice Abu Taher Md Saifur Rahman and Justice Md Zakir Hossain issued the directive in the full text of its Sept 28 order. The court had come up with the order after holding hearing on a writ petition filed in this regard.

“I have received the three-page written order today, in which the court has asked BB to comply with its directions. BB will form a high-power committee to identify these lending companies and take legal actions,” said petitioner Barrister Syed Sayedul Haque Suman.

The HC in its Sept 28 order asked authorities concerned to immediately shut down offices of unauthorised financial, microcredit institutions and cooperative societies. It also asked BB to form a special body to probe their activities.

Suman on Sept 7 filed the writ, making deputy commissioners and superintendents of police of 64 districts, among others, respondents.