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Section 55
Loan disbursement arrangements
(1) A bank or a financial institution shall provide loans only after disclosing the purpose, subject to the instructions of the National Bank and the credit policy determined by the Board of Directors. And the loan shall be granted in such a way as to protect the interest of the depositor. (3) In order to cancel or suspend the registration or filing in the name of a bank or financial institution so that the property taken for the security of the loan cannot be canceled or transferred in the name of any person from any business. The bank or financial institution shall send a written notice to the relevant office. (4) If a written request is received for registration, cancellation or suspension of the filing in accordance with sub-section (3), the relevant office shall give the registration, cancellation or suspension of the registration in accordance with the written request. (5) If the National Bank instructs to provide loans to the priority classes and areas for the economic upliftment of low-income and underprivileged people and residents living in a specific geographical area, banks and financial institutions shall provide loans accordingly. The terms, terms and interest of the loan taken from the financial institution shall be as stated in the document or agreement related to the loan transaction. or any other type of ownership, the family of all the mentioned persons and the details of all the persons mentioned and if they are beneficiaries anywhere, the bank or financial institution shall also take the necessary identification proof in case of taking action according to the prevailing law. (8) When the bank or financial institution grants a loan to the borrower The amount of loan provided and the amount of interest, damages and the schedule to be paid should be clearly disclosed in the document or contract and the information should be given to the debtor and the guarantor if there is a guarantor. (9) DebtorHe can demand the details of the loan principal, interest, damages and other charges and the documents related to the loan and the bank or financial institution must provide such details to the borrower.