Court orders to attach EXIM Bank head office over loan default

‎A Dhaka court on Monday ordered the temporary attachment of EXIM Bank’s head office in Gulshan in connection with a loan default case filed by Bank Asia.‎

‎Judge Mujahidur Rahman of Dhaka’s Fifth Artha Rin Adalat passed the order.

‎The court also asked EXIM Bank to show cause within 15 days as to why its head office should not be seized and set 21 August for the next hearing.‎

‎According to sources, EXIM Bank borrowed Tk400 crore from Bank Asia last year amid a funding crisis.

‎However, the bank has so far failed to repay Tk389 crore from that amount. In response, Bank Asia filed a case to recover the defaulted loan.