Amadeusz Juskowiak

Bangladesh moves against loan defaulters

Bangladesh police mounted a crosscountry hunt for defaulters on bank loans arresting four industrialists and issuing arrest warrants against 50 others for failure to repay overdue obligations No names were given

Metropolitan police told reporters the four arrested put under six month pretrial detention owed nearly 507 mln taka

the equivalent of about 17 mln dlrs to Bangladesh Shilpa Industrial Bank

President Hossain Mohammad Ershad has said nonpayers are crippling the industrial sector But the Chamber of Commerce and industry said the crackdown would scare away entrepreneurs