The Money Lending Act was enacted to recover defaulted loans of banks. The peculiarity of this Act is that it is a special law and its supremacy over any other law, that is, if any dispute arises with any other law, the Money Lending Court Act, 2003, the Money Lending Act shall prevail. The relevant provisions of the Civil Procedure Code shall apply to the trial of any case filed under this Act, unless it is inconsistent with the provisions of this Act. The loan case has to be filed by submitting RG along with affidavit. The affidavit has to be submitted at the time of submission of reply by the respondent. In case of unilateral or immediate disposal of a case, the court may issue a judgment or order without examining any witness only by examining such affidavit RG or written reply and the relevant documentary evidence. The practical aspects of finance law should be discussed as well as its compatibility with reality. Usually the defendant in this case wants time to appear. No one responds beyond the time prescribed by law, while others submit replies in name only. Missing again during the final hearing. As a result, most of the loan cases are settled unilaterally. Due to the low rate of litigation in the competition, the judges concentrated on the settlement of unilateral loan cases and money laundering cases. Because judges have an obligation to settle cases. Discussions with different classes of officials of different banks have shown that the customers of the bank i.e. the borrowers are usually upper class, upper middle class and middle class people. The lower middle class or lower middle class is not usually a bank customer or borrower. This does not mean that lower middle class and lower middle class people do not need loans. The lower middle class and lower class people of Bangladesh are usually afraid to cross the boundaries of the front door of the bank. Moreover, they do not want to get into trouble. They basically go to the usurious moneylender in need of money. People who usually go to the bank are quite aware and knowledgeable about the transactions and activities of the bank. When a customer comes for a loan in banking activities, he has to go to any one desk. The desk officer had a preliminary discussion with him. He explained the issues related to debt well. Later, if the negotiations are satisfactory, the loan is sanctioned with the permission of the higher authority. But the concerned desk officer is officially responsible for that loan. It is to be noted that most of the banks in Bangladesh (especially private banks) have targets in collecting deposits and disbursing loans to their officials. If a borrower defaults, the desk officer is responsible first. He requested the customer to repay the loan at different times by phone and letter. The bank was helpless and filed a case in the finance court as a last resort. It is learned that the bank has discussed the matter with the officials at different levels in a very discouraging manner. Because the cost of the case and the consequences of debt collection are disappointing. Financial institutions have some shortcomings when it comes to lending. First of all, all the forms related to lending of financial institution such as loan agreement form, personal guarantee form etc. are written in English. In this case, the borrower should have a choice. The language of law is complex and the language of such agreements is also complex. By deciphering on behalf of the general customer, it is not possible to conclude the contract by understanding the legal issues. In this case, all loan related forms should be in Bengali and English and customer preference should prevail. There are some unscrupulous officials in the financial institutions who often lie to the customers, creating loans with signatures in various forms. They should have exemplary punishment.

In most cases summons are not issued properly after the loan case has been filed. However, the defaulter already knows the subject of the case. This is because the customer is contacted more than once by phone or letter from the bank. And there is a set time for filing a case. If the case is filed after the specified time, it is barred by the limitation. As there was an opportunity to issue summons through newspapers, court employees and a class of bank officials became more interested in issuing summons notices through newspapers at the behest of newspaper commissions. An investigation by the Dhaka District Judge's Court found that some employees were always interested in working in the finance court and had been working in the finance court for a long time. Besides, a class of mafia has formed around the Dhaka Finance and Credit Court. As a result, it is seen that the advertisements of the finance court are getting a few newspapers. Advertisements are being published in some well-known court-centric newspapers of Dhaka. Because the commission is higher in these newspapers. One or two finance court judges have been harassed, harassed and slandered by the mafia for interfering in these matters.

Some decisions need to be made to make the finance law effective and up-to-date. First, all bank accounts should be brought online and linked to Bangladesh Bank. As soon as an account is opened, the customer will get a separate number from Bangladesh Bank. A Bangladesh Bank ID may be in the name of the customer who deposited one lakh rupees at the initial stage. Later its coverage can be increased. A customer or organization may have multiple bank accounts. But Bangladesh Bank ID will be the same. An ID of Bangladesh Bank will have all the account details. In this case Bangladesh Bank will open a cell and will be connected with all scheduled banks. If the customer defaults on a loan from one bank and has money in the other, it will have the opportunity to coordinate with the mediation of Bangladesh Bank or the opportunity to take a loan from another bank will be eliminated. However, the activities of this cell of Bangladesh Bank have to be done with utmost confidentiality and fidelity. Second, the minimum interest rate on the customer's account and the highest interest rate on the loan account should be the same for all financial institutions. The deadline for reconciling loan accounts and customer accounts should be the same. Although the loan is provided at annual interest rate, the loan account is adjusted for 3 consecutive months. The customer's account is adjusted after 6 months, which is unwelcome.

In case of loan, one check is taken from the customer against the amount of money in each installment and one against the amount of full loan amount. Ordinary customers have to face litigation lawsuits under the Money Lending Court Act and check dishonor cases under the NI Act against the same loan. By amending the law, the case of debt and check dishonor arising against a loan should be brought to trial in the same court. In this way, the customer does not have to face multiple cases against the same loan. The courts will get some relief from litigation. For this, amendment of Finance Court Act 2003 is required.

The 'judge' of the finance court may exercise certain criminal powers (first class magistrate). There is a provision of civil imprisonment in money laundering cases. The court can sentence civil imprisonment up to 6 months. It is learned that the court has given imprisonment in the money laundering case and then Daik has reached a compromise with the financial institution and Daik has paid all the dues. The money laundering case can be settled amicably. But the court has not been empowered by law to revoke the civil sentence. The law needs to be amended in this regard as well.

According to many, finance court law is a strict law. Just as there is a tendency among people to disobey the law, so there is a law for human beings. That is why the use of law must be humane. Similarly, awareness is needed to create law-abiding tendency among the people. Just as it is difficult to prevent large borrowers from getting out through misapplication of the law, it is important to take steps to ensure that small borrowers do not fall victim to injustice. Let the practical aspect of the law be like that.