Dhaka, Aug. 9 -- The government has taken steps to identify and freeze assets belonging to loan defaulters located abroad in an effort to recover large non-performing loans in the banking sector.

Concerned banks have initiated legal processes to track down, freeze, and repatriate money laundered overseas or assets created abroad by loan defaulters.

Initially, 42 institutions with defaulted loans exceeding Tk 200 crore have been brought under this initiative. Eight international legal and professional service firms are working to locate and recover these foreign assets.

Bangladesh Bank Spokesperson Arif Hussain Khan disclosed the information on Sunday (August 9).

He said some funds from defaulted loans exceeding Tk 200 crore may have b...