Private lender Mutual Trust Bank rescheduled Tk 89 crore in troubled loans for Hera Sweaters Ltd, a garment exporting company owned by Md Mostaqur Rahman, only a few months before he was appointed as the governor of Bangladesh Bank. The loan restructuring was approved in December under the central bank’s special policy, offering a 10-year repayment plan with a two-year grace period. This policy was meant to support businesses affected by circumstances beyond their control.
Although the company requested a longer repayment period and lower interest rate, the bank granted a shorter tenure. Rahman, who previously served as managing director and CEO of Hera Sweaters and was also linked to BNP’s election steering committee, later replaced Ahsan H Mansur as governor. His appointment has sparked criticism from several commercial bank managing directors, who questioned possible conflicts of interest due to his company’s loan rescheduling under special terms. Rahman did not respond to media requests for comment.
