Thumbprints to be Mandatory in all Loan Documents Now
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| Thumbprints to be Mandatory in all Loan Documents Now |
The authenticity of these would be cross-verified using the NID database by the banks
The Bangladesh Bank (BB) has introduced a new mandate requiring the inclusion of thumbprints on all loan documents.
Under this directive, individuals seeking loans and their guarantors will be required to provide thumbprints from both hands in addition to their signatures during the loan application process.
To ensure the authenticity of these thumbprints, banks will cross-reference them with the National ID (NID) database.
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In response to a recent observation by the High Court, the BB has issued a circular highlighting the issue of borrowers and guarantors disputing the legitimacy of their signatures on loan documents.
This situation has prompted the court to rely solely on signatures, leading to delays in verifying the authenticity of these signatures.
Consequently, commercial banks have encountered significant challenges.
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