5-yr jail for seeking BHBFC loan on false info proposed

The cabinet today approved in principle the draft of “The Bangladesh House Building Finance Corporation Act, 2019” that provides for enhanced penalties for giving false information while seeking house building loan.

The draft law seeks to increase the punishment to five years of imprisonment from two years and the fine to Taka 5 lakh from Taka 2000 for the offence.

The approval came from the weekly cabinet meeting with Prime Minister Sheikh Hasina in the chair at the Prime Minister Office (PMO) here in the capital.

“The cabinet approved in principle ‘The Bangladesh House Building Finance Corporation Act, 2019’ bringing some changes to the existing ‘Bangladesh House Building Finance Corporation Order 1973,’ Cabinet Secretary Mohammad Shafiul Alam said at a news briefing in the Secretariat here.

“Some changes have been proposed in case of punishment. It has proposed increasing the jail term to five years from the existing two years and fine to Taka 5 lakh from Taka 2000 in the draft law for giving false information to get loan from the Bangladesh House Building Finance Corporation,” he said.

The amendment proposal also sought to enhance the authorized capital to Taka 1000 crore and paid up capital to Taka 500 crore from the existing Taka 110 crore in both the cases, he continued.

Source: bss