The suggestion was made at a meeting of Bankers Association of Bangladesh (BAB), a forum of bank chief executives, along with a set of recommendations to expedite cases with the money loan courts.

Talking to The Daily Star, BAB President M Aminuzzaman said the decisions will be communicated to the Ministry of Law and the central bank for necessary action.

The bankers will also propose re-fixation of stamp duty and registration ceiling in the range of Tk 1,000 and Tk 10,000 for filing cases with the money loan courts. Presently, the stamp duty is Tk 50,000.

The meeting was held in the wake of suggestions from of the law ministry which sought a written proposals from bankers to overcome problems faced by them in recovering bad loans following the amendments to the Money Loan Court Act.

Bankers told the meeting that the amendments failed to bring desired results as the auction process of defaulters' mortgaged property is often stayed by court order and the cases are not settled within the time stipulated in the law.