Set up complaint box for allegations on unauthorised financial institutions: HC

The High Court today ordered the authorities concerned to set up complaint box in all districts and upazilas to receive information and allegations from people about activities of unauthorised financial and microcredit institutions.

The court also directed Bangladesh Bank to issue notice to the deputy commissioners and superintendents of police throughout the country to take necessary steps to this effect.

During hearing a writ petition, the HC bench of Justice Abu Taher Md Saifur Rahman and Justice AKM Zahirul Huq passed the order.

The HC bench also ordered Bangladesh Bank to submit a complete report after complying with today's and previous directives on this issue in 60 days.

Supreme Court spokesman Md Saifur Rahman said Bangladesh Bank today submitted a compliance report before the HC bench, saying it has formed 19 teams to monitor the activities of unauthorised financial and money lending institutions across the country.

The central bank has received reports from some district administrations about taking legal action against the unauthorised institutions who have no valid licence, the spokesperson said.

The HC bench will set a date for hearing several writ petitions filed by some financial institutions seeking permission for running their microcredit business, he also said.

Earlier in September last year, the HC had directed the government to shut down offices of the unauthorised institutions immediately and to take appropriate legal actions against those.

Moreover, the HC had asked the microcredit regulatory authorities to submit a list of names of local money lenders that have no license and are lending money at high interest rates.