The Bangladesh Bank Highlights Need for Timely Resolution of Cases in the Money Loan CourtDecember 4, 2023
The circular underscores the imperative for prompt action in resolving ongoing cases in the Artha Rin Adalat or money loan court. It underscores the legal responsibility outlined in the Money Loan Courts Act of 2003 to accelerate the adjudication of money-lending cases within a stipulated timeframe. Recent assessments by the Bangladesh Bank reveal substantial delays in concluding such cases, adversely affecting both depositors and scheduled banks. The circular attributes this delay to negligence on the part of all parties involved, with a particular emphasis on plaintiff banks. In order to rectify this situation and ensure the expeditious and timely resolution of pending cases, the circular calls upon banks to handle cases with diligence, placing emphasis on comprehensive preparation and effective communication with legal representatives.