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Bangladesh - September 18, 2023

Businessmen request not to increase interest rate

Staff Correspondent: Federation of Bangladesh Chamber of Commerce and Industry (FBCCI), the apex organization of businessmen, has requested not to increase the interest rate on bank loans.
FBCCI President Mahbubul Alam made this request in a meeting with Bangladesh Bank Governor Abdur Rauf Talukder on Monday (September 18).
However, Bangladesh Bank said that the interest rate will not increase at an abnormal rate. A small amount can be increased step by step according to the current system.
After the meeting, FBCCI President Mahbubul Alam said, I have thanked the governor for the policies taken from Bangladesh Bank during the corona period and critical period. We have requested the governor not to increase the interest rate in the future. However, the governor said there is no chance for the interest rate to increase.
He also said that the debt repayment was discussed. So far two industries have been given facility in repayment of loans. I have informed about whether this facility can be given to some other sectors or not. So that traders can do business well.
The FBCCI president said that the governor’s attention has been drawn to the issue of dollars. He said, we have requested that traders can buy dollars at fixed prices. The governor said Bangladesh Bank is working on it. It will become normal.
Regarding opening of LC, FBCCI President said, “We have talked about small and medium businessmen, so that they can open LC. The governor has assured this and the banks have been instructed accordingly.”
Executive Director and Spokesperson of Bangladesh Bank Majbaul Haque told Jago News that FBCCI has asked not to increase interest rates. Bangladesh Bank has said that the interest rate will not increase at an abnormal rate. According to the current system, there may be a slight increase in steps. The mean average is done that way.
Regarding the dollar price, he said, now the trade balance is equal, the price should not be higher. The dollar rate is set by BAFEDA-ABB. We work with the rates they offer.

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