9PC LENDING RATE

Bankers place new demand 

Staff Correspondent | Published: 00:50, Jan 14,2020

 
 

Finance minister AHM Mustafa Kamal on Sunday assured the bankers of conveying their demand for keeping loans to short and medium entrepreneurs out of the purview of the proposed 9 per  cent interest rate to prime minister Sheikh Hasina.

His assurance came at the reception to him by the bank owners and bank executives at Bangladesh Association of Banks at Gulshan after AHM Mustafa was declared the ‘Finance minister of the Year’ by a UK based magazine this month, officials attending the meeting said.

The bank owners and executives also demanded deposits from the state-owned agencies at 6 per cent interest for the implementation of the single digit interest rate.

On December 30, AHM Mustafa Kamal deferred the implementation of the much-talked-about single digit interest rate until April 1 from January 1.

He, however, announced that all but credit card would be come under the purview the single digit lending rate instead of industrial sector only. 

Mustafa Kamal set the new deadline also after a meeting with the bank owners and executives in the capita following an appeal by the formers.

On August 2, 2018, former finance minister, AMA Muhith, first announced that the single-digit lending and deposit rates would come into effect from August 9, 2018.

The government has fulfilled a host of demands from the banks to facilitate the interest rate implementation, but the rate remained unimplemented as the association deferred its implementation on various pretexts. 

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