Single digit loan interest from April 1: BB Governor
Bangladesh Bank Governor Fazle Kabir expressed optimism that it would be possible to provide single digit loan facility from April 1 this year.
He expressed this optimism while meeting with the members of the Board of Directors of Dhaka Chamber of Commerce and Industry (DCCI) on Tuesday.
Members of the board headed by DCCI President Shams Mahmud visited the office of the Governor of Bangladesh Bank on the day to hold meeting with him.
During the meeting, DCCI President said that although Bangladesh achieved GDP growth at 8 percent rate, private investment is not increasing at the desired level. Apart from this, private sector credit flows are witnessing a downward trend, which was 9.87 percent in November, 2019.
He argued at the time that high interest rates on bank loans were one of the main reasons for this.
Shams Mahmud urged that the Bangladesh Bank will bring the interest rate of the bank loan into single digit along with improving the business-friendly environment to reduce the investment stagnation of the private sector and emphasized the concerted initiative of all to implement it from April 1.
At the time, the governor of Bangladesh Bank said Bangladesh's economy is largely dependent on the banking system. To improve the economy, business community, people's condition, the government has taken initiatives to provide loan facility at single digit rate. At that time, he hoped that with the help of all-out efforts of concerned all, the loan facility would be available on single digit from April 1.