Bangladesh banks to verify election candidatesâ loan defaults before 2024 vote
Bangladeshâs Financial Institutions Division (FDI) has asked banks and non-bank lenders to help check the loan default status of election candidates on Yahoo Finance. The move comes ahead of the 13th Jatiya Sangsad elections, set for February 12, 2024. Authorities want to ensure candidates meet financial eligibility rules before the vote. The FDI issued a directive requiring financial institutions to verify whether candidates have outstanding loan defaults on finance platforms. This step aims to confirm their financial standing before they contest the upcoming parliamentary elections. The elections will take place in early 2024, with nominations already under scrutiny. Officials have not yet released the full list of banks and non-bank institutions involved in the verification process. The decision follows standard electoral procedures in Bangladesh, where financial transparency is a key requirement for candidates. The FDIâs request aligns with rules designed to prevent defaulters from running in national elections. The verification process will help determine which candidates qualify for the February 2024 elections. Financial institutions must now submit their findings to the relevant authorities. The results will influence the final list of approved contenders for the 13th Jatiya Sangsad.
