Dhaka, Feb. 26 -- The Mutual Trust Bank (MTB) restructured a defaulted loan of Tk 860 million belonging to the garment factory of the newly appointed Bangladesh Bank Governor Md Mostaqur Rahman approximately two months ago.

The debt held by Hera Sweaters Limited was renewed under the central bank's policy guidelines after a 2 percent down payment was made.

A senior executive from MTB and a senior official from Bangladesh Bank have confirmed the details of this rescheduling.

Both of them declined to be named for this story because of the sensitivity of the matter.

Following the announcement of Mostaqur, a prominent apparel businessman and the MD & CEO of Hera Sweaters, as the new governor, discussions over his status as a loan defaulte...