The book “Default Loan Culture” is based on study or Research Paper of M S Siddiqui, a Lecturer of Leading University, Dhaka Campus and a businessman is working with a different approach. The book has visible sign of experience of a businessman and research of a teacher. It is a first ever research on Management of Non Performing Loan in Bangladesh. Most of the research in
There are some suggestions of Alternate dispute solution like Banking Ombudsman and formation of Asset Management Company.
This is an eye opener for Policy makers in
Contents:
Chapter-One
1. Introduction
1.1 -Sickness:
1.2 -Why Bank loan?
1.3 -Background of Bangladesh Economy:
Chapter-Two
2.1-The Industrial Sector
2.2-Government plan and policies for Industrialization:-
2.3- First Five years plan:-
2.3.1- Development of Capital Goods Sector:
2.3.2 -Small Industries:
2.3.3- Rural and Cottage Industries:
2.3.4- Export Oriented Industries:
2.3.5-Strategy for Increasing Industrial Output
2.3.5.1- Nationalized Sector:
2.3.5.2 -Private Sector:
2.3.5.3- Foreign Investment:
2.3.5.4- Geographical Dispersal:
2.3.5.5-Choice of Technology:
2.3.5.6-Increased Capacity Utilizations:
2.3.5.7-Growth through Linkages:
2.4-Second Five year plan
2.4.1-Objectives and Strategies of the Plan
2.4.1.1-Objectives:
2.4.1.2-Industrial Development Strategy:
2.5-Third Five Year Plan
2.5.1-Strategies:
2.6 Fourth Five Year Plan: Objectives of Industrialization:
2.6.1- Strategies and Policies:
2.7-The Fifth Five-Year Plan: Objectives and Strategies for Industrialization:
2.8- The Industrial Policy 1991:
2.9- The Industrial Policy 1999:
Chapter-Three
3. Industrial Sickness:
3.1-Concept of Sickness:
3.2- Chronology of Industrial Sickness:
3.3- Sickness Industries:
3.4- Definition of Sick Industry:
3.5- Factors of Sickness:
3.6- Industrial Sickness:
3.6.1-
3.6.2- Statistics:
3.7 -Reason of Sickness:
3.8. Reason of Sickness in
3.8.1 Causes of Industrial sickness: A Study of BIDS
3.8.2. Symptoms and Factors:
3.8.2.1 Symptoms:
3.8.2.2- Internal Factors:
3.8.2.3 External Causes:
3.9. Constraints Faced in Production Cycle:
3.9.1-Implementation:
3.9.2- Production:
3.9.3- Personnel and Labor Relations:
3.9.4-Test of Hypotheses:
3.9.5- Findings of Sick Industries Cell, Government of
4. Sickness and Remedy in others Countries:
4.1- Some recommendations to rehabilitate the Sick Industries.
4.2- Study in
4.3-Navak Committee:
4.4-Goswami Committee
4.5-Kapur Committee:-
4.6. Various Steps taken by Indian Government to Control the Sickness in SSIs:-
4.7 -Steps Taken in Ninth Five-Year Plan
4.8- Other steps:
4.9-Delayed payments:-
4.10- Rehabilitation of sick units:
4.11 Change of Laws:
4.11.1 The Recovery of Debts due to Banks and Financial Institutions Act 1993.
4.11.2-Securitization and Reconstruction of Financial Assets and
Enforcement of Security Interest Act 2002:-
4.11.3- Companies (Amendment) (Second Amendment) Act 2002:
4.11.4-Japanese policy:
4.11.5-Chinese experience:-
Chapter-Five
5. Sick Industry to Default Loan to Loan Defaulter:-
5.1-Classification of Defaulters:-
5.2- Classification of Defaulters in
5.2.1- Guidelines issued on willful defaulters (
5.3- Definition of willful default:
5.4 -Diversion and siphoning of funds:
5.5- Cut-off limits:
5.6- End-use of Funds:
5.7- Penal measures:
5.8- Guarantees furnished by group companies:-
5.9- Role of auditors:-
5.9.1- Role of Internal Audit / Inspection:-
5.9.2- Reporting to RBI / CIBIL:-
5.10- Grievances Redressal Mechanism:-
Chapter-Six
6. Criminal Action against Willful Defaulters:-
6.1- J.P.C.Recommendations:-
6.2 Monitoring of End Use
6.3- Criminal Action by Banks / FIs
6.4- Reporting names of Directors:-
6.4.1- Need for Ensuring Accuracy:
6.4.2- Position regarding Independent and Nominee directors:-
6.4.3- Government Undertakings:-
7. - Recovery policy in
7.1- Mediation in
7.2 Recovery policy In
7.3- Alternate dispute solution method in
7.4- Banking Ombudsman:-
7.5 Ombudsman for
7.6 Asset Management Company:-
8. Policy for Sick Industries:
8.1- Intervention of PM:-
8.2- Sick Industries Rehabilitation Cell:-
8.3- Review Committee:-
8.4- Budgetary allocation:-
8.5- Action of Caretaker Government:-
Chapter-Nine
9. Conclusion:-
9.1- Recommendations of study:-
* “Defaulted loans in banks rise 10.96 pc in 6 months” published by “The Daily Star” dated the
* Industrial policy of
*Daily Inquilab dt
*Debt Default to the Development Finance Institutions- The Crisis of State Sponsored Entrepreneurship in Bangladesh- 1991 University Press Ltd Edited by
*The First Five Year Plan 1973, Published by Planning Commission, Government of the People’s Republic of Bangladesh., Chapter 4, page 195,208,209 and 210.
*The Second Five Year Plan 1980-1985, Published by Planning Commission, Government of the People’s Republic of Bangladesh, May 1980.,Chapter-II, pages II-1, II-7 and XIII – 46.
*The Third Five Year Plan 1985-1990, Published by Planning Commission, Government of the People’s Republic of Bangladesh, December 1985., pages233, 234,236 and 237.
*The Fourth Five Year Plan 1990-1995, Published by Planning Commission, Government of the People’s Republic of Bangladesh, June 1995, ). (Pages. XI -8)
*The Fifth Five Year Plan 1997-2002, Published by Planning Commission, Government of the People’s Republic of Bangladesh, March 1998, (Page-297 and so on)
* GOB (1991): The Industrial Policy 1991, Ministry of Industries, The Government of the People’s Republic of Bangladesh, Dhaka, (Page 4, Sec.W and so on)
* GOB (1999): The Industrial Policy 1999, Ministry of Industries, The Government of the People’s Republic of
* “Basket-Case” by
* Memo no: B-Board/UMP (P&P) 91/3/274 (! () dt 18-03-1998- Minutes of Meeting of Sick Industries cell, MOI.
*The Sick Industrial Companies (special provisions) Act, 1985 in
*.
*The companies (rehabilitation of sick industrial units) rules, 1999 in
*Why does an Industry become sick? The case of a material engineering enterprise.(Bank Parikarma, Volume xxv, No.1, March, 2000 (Pp 48-66), By Syed Golam Maola & Md. Ali Akkas Page 63.
*Reported from meeting dt
*“Sick Industries: Causes, Remedies and Prevention,” Economic Policy Papers Published by The
* GOB (1986): The Industrial Policy 1986, Ministry of Industries, The Government of the People’s Republic of Bangladesh, Dhaka, (page 3, para-4).
*The Memo of Ministry of Industries: Memo no MI/11-1/2A-47/91/195 (15) dt
*The Review Committee was made under the governorship of the executive Chairman, BoI, and other members of the committee were Member (Industry), Planning Commission, Secretary, MoI , additional secretary (Banking and Investment), Finance Division, MoF, Deputy Governor, Bangladesh Bank, and Managing Director ( concerned bank/FI).
* Notification No. AOMO/BAABI/Shakha-8/31/94/01/97 dated
*Notification bearing number OAMO/OABI/banking Shakha-8 / Rungno Shiplo/98/342 (18) dated 2.08.1198 published in Bangladesh Gazette on 04.10.1998.
* “Public sector banks’ lackluster performance annoys Aziz” Reported by Financial Express on January 12. 2008.
*Artho Rin Adalat Act 2003 (Section 2 subsections ‘Ka’ and section 3)
* Ref case of Sonali Bank vs
*
* Sultana Jute Mills vs Agrani bank 46 DLR ad, 174. and Sec 7)
*Artho Rin Adalat Act 2003 sec 7, (Sub section; 12,13,14,15,16,17,)
*Bankruptcy Act
*Public Demand Recovery Act 1913
*Peoples Representative Acts
*
*The Code of civil procedure, 1908. (Sect.22)
*The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act, 2002 in
*‘The Recovery of Debts due to Banks and Financial Institutions Act 1993.’
*Recovery policy of State Bank of
*The circular of Reserve Bank of
Writer Another Book
Regulatory Reform Bangladesh Perspective:
This book is the inauguration of an epoch making era in the sphere of Regulatory Reform. It has come up with some bold steps in accordance with the demand of the time. It is not only the combination of some critical analysis regarding law but also it has shown the loopholes of law and order of the society with wise recommendation. Most possibly it is the first organized attempt of a Bangladeshi author to write down something on a sensitive but well observed subject like Regulatory Reform. This book can be treated as Path Finder as far as the inspiring force of the insight of it is concerned. One of the most striking features of this book is that it critically analyzes the drawbacks of the existing law and order. It nakedly exposes the real fact about the difference between practical implementation and existence of law. This is a kind of microscope in which a reader can easily realize the perception of stakeholders. Interestingly, this book states an issue from the vantage point of several representatives such as law makers, regulating authorities and business community etc. Thus the discrepancy becomes prominent when it discovers that law is used by several groups to reach their goal. Although such kind of strong and direct analysis is very rare in the context of the writing of Bangladesh, “Regulatory Reform” is full of it.
The “Regulatory Reform” warns about the catastrophic force within Regulatory Reform Commission. It shows that the rules and regulations of the very commission itself hinder the implementation of law in our country. The persons related with the commission don’t maintain proper formation of exercising law in a proper way. Basic ingredients to run kind of commission such as legal expert, social scientist, research facility of regulatory impact etc. are not available although the commission is the nucleus to confirm smooth running of law and order. The book exposes these ironic problems. The greatest feature of this book is that it identifies the sectors in which some reformations are badly needed. It prescribes some remedy in accordance with socio-economical condition of Bangladesh. Some laws have become ineffective but these are not reformed with the demand of time. The reformation must be done on SOS basis as backdated laws are more harmful than no law at all. Even the author has analyzed the situation with great craftsmanship. His logical solutions have given the scope to think about better future of Law and Order of the society. The proverb goes on that prevention is better than cure. This book is the store house of some preventive ideas that can finish the problem regarding law even before it arises. Some sectors of the book are totally related with preventing measures which are must for the betterment of Regulatory Commission. Actually the lack of pace in accordance with the situation has become the basic problem with Bangladesh’s law and order. The author has brought some dynamic ideas into light to steer the society in a better position. He criticizes the lack of transparency of law from one section to another section. Some laws are self contradictory. The author has identified and analyzed these in this book. His analytical brain and the ability to understand the situation deserve praise. A vast section of the book has dealt with a common issue like ‘black’ and ‘white money’. In discussing both black and white money, he has given the idea of ‘grey money’ too. The new term should be taken in consideration as it has become a common practice. Although the source of income is honest, only for the procedural cause it has become money laundering. As a matter of fact, the book deals with so many modern out come which must be focused via regulatory reform. Neither his occupation nor his studentship will give any idea about the cause of writing such kind of unconventional but necessary book. It is obvious that his own interest on Legal System of Bangladesh is the real power house to carry the load of an enormous task of completing an analytical book such as this. This book can be considered a real asset for the smooth running of Law and Order of Bangladesh.
((((((((The price of the book is Tk 350 for pages about 205 pages but worthy considering many new information and study. The available in some book stall in the country and also with writer at Bangla Chemical, 15, New Baily Road, Dhaka-1000.Phone: +88029346780-81, Mob: +8801711469971, +8801198006616
We expect wide circulation of the book.)))))))))))
TABLE OF CONTENTS
01. An introduction to Regulatory Reform
02. Law and delegated law in modern state
03. Reform in Bangladesh, donor's prescriptions
04. Making Regulations Work Better for Businesses
05. Money Laundering & 75 million suspects
06. Overhauling the Foreign Exchange Regulation Act of 1947
07. The need for professionals' indemnity insurance
08. For dynamism, banks need reforms
09. Default Culture and Sickness in Industries, Part One
10. Default Culture and Sickness in Industries, Part Two
11. Ombudsman and Justice System in Different Sectors, Part One
12. Ombudsman and Justice System in Different Sectors, Part Two
13. Importance of Tort Act in restoring justice, Part One
14. Importance of Tort Act in restoring justice, Part Two
15. Analysis of VAT in the Proposed Budget 2009-2010, Part One
16. Analysis of VAT in the Proposed Budget 2009-2010, Part Two
17. Analysis of VAT in the Proposed Budget 2009-2010, Part Three
18. Birth and Death Registration Act and name of citizen
19. Grey, black and white money
20. Realities of Black Money, Ways for Curbing its Growth
21. Ways for makin2 AMCs effective
22. Tackling Systemic of NPLs through AMCs Problems
23. Thoughts on Proposed Competition Act
24. Making upcoming competition law really effective
25. Payments in international trade
26. Facilitating international trade by smoothening the process
27. Accreditation of Accreditation authority in Bangladesh
28. Consumers need education & knowledge
29. Cost of extra service & professional risk
30. Wholesale market- global experience and Bangladesh
The writer is a Part Time Lecturer of Leading University and the Propritor of Bangla Chemical, Managing Director of Hydro Machines Limited, Managing Director of Meet Bangladesh Ltd, Senior Vice President of Bangladesh Indenting Agents' Association.
Mohammad Hasibur Rahman [ BBA, MBA(doing) from LU] is an Assistant Researcher of the above Honorable Writer. He is also Senior Executive ( Depart. of Sales) of Bangla Chemical.email: hasib_bba@yahoo.com, Mobile: +8801711469971
