BASIC Bank Limited

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BASIC Bank Limited is a fully government owned bank in Bangladesh which was founded on 2 August 1988. The bank was founded to finance small enterprises. Professor Dr. Abul Hashem is chairman of the bank. is the managing director of the bank. More than 45 billion taka loan was defaulted from the bank, many of the loans were to companies that existed on paper only, with the support of former chairperson Sheikh Abdul Hye Bachhu. 100 borrowers accounted for 86 percent of the defaulted loans. rdf:langString
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