Today's NewspaperEditorial
DHAKA Tuesday 28 February 2012 16 Falgun 1418 BS 05 Rabius saani 1433 HIJRI
Home First Page Sports Metropolis Business Back Page Culturetainment World Extra My District education
Breaking News : Writ petition filed with HC for ordering dislosure of motive behind journo-couple murder
NEWS OF THE DAYAsus's chairman Jonney Shih addresses a news conference during the Mobile World Congress in Barcelona yesterday. The GSMA Mobile World Congress, representing the interests of the worldwide mobile communications industry, will take place from February 27 to March 1 in Barcelona.
« Previous News
Businesses unhappy with banks’ interest rates→ Staff Correspondent
Bangladesh Bank Governor Dr. Atiur Rahman speaks at a meeting with the leaders of several trade bodies at BB headquarters in the city on Monday.
 Business leaders yesterday demanded to bring back the borrowing and lending rates of banks at 12 and 14 percent respectively to promote industrialisation and investment in the country.

The demands came up at a meeting of several trade bodies and banks associations with Bangladesh Bank high ups at the BB headquarters.

During the meeting, the business leaders suggested the commercial banks and non-bank financial institutes (FIs) to strictly follow the borrowing rate of 12.50 percent and the lending rate of 15.50 percent, recently declared by the Association of Bankers Bangladesh (ABB).

As soon as the economic situation improves, the rates should be reset at 12 and 14 percent, they observed.

Bangladesh Bank Governor Dr Atiur Rahman presided over the meeting where President of Federation of Bangladesh Chambers and Commerce (FBCCI) AK Azad, President of Dhaka Chamber of Commerce and Industries (DCCI) Asif Ibrahim, President of Metropolitan Chamber of Commerce and Industries (MCCI) Major Gen. (Retd) Amjad Khan Chowdhury, Chairman of Bangladesh Association of Banks (BAB) Md Nazrul Islam Mazumder, President of Chittagong Women Chamber of Commerce and Industries Monwara Hakim Ali, BGMEA President Shafiul Islam Mohiuddin, BKMEA President AKM Selim Osman, BTMA President Jahangir Al Amin, BIA President Sheikh Kabir Hossain, President of Women Entrepreneurs Association of Bangladesh (WEAB) Nasrin Awal Mintoo, Acting President of Bangladesh Chamber of Industries Shamsur Rahman, President of Dhaka Stock Exchange (DSE) Md Shakil Rizvi, President of Chittagong Stock Exchange (CSE) Mohammad Al Maruf Khan, deputy governors and other senior officials of Bangladesh Bank were also present.

Emerging from the meeting, BB Deputy Governor SK Sur Chowdhury told reporters that the central has been strictly vigilant to supervise whether the commercial banks and FIs were following the lending and borrowing rates set by the ABB.

He said a few banks were found to charge higher rates in borrowing and lending and the BB has been trying to detect those banks to take measures.

He said the trade bodies, banking associations and the central bank should come to a consensus to play their respective roles in maintaining the borrowing and lending rates at 12.50 percent and 15.50 percent.

Replying to a question, SK Sur said those who signed any contact prior to fixing the new rates, would be charged according to the previous rates.

He said nowadays, the central bank has been taking all decisions after proper consultation with the stakeholders and yesterday’s meeting was a reflection of that effort.

The government is also concerned about the high rate of bank interest, saying that it was harmful for the country’s industrialisation, investment and entrepreneurship development.

During the meeting, FBCCI Preside AK Azad alleged that many banks have bee defying the newly set rates of 12.50 percent and 15.50 percent.

He said the production costs at the industrial units have increased manifold due to the hike in the prices of gas and power. He also expressed his frustration over the high interest on bank loans in these circumstances.

AK Azad also alleged that around 100 people have snatched away Tk 400 billion from the stock market which had caused tremendous harm to the country’s economy.
« Previous News
More Business News
Railway to purchase 16 locomotives from India
BASIS SoftExpo 2012 ends with high hopes
BB initiates new policy to stimulate bonds market
NBR forms Integrity Unit to rid corruption
Japanese business team arrives
Chinese firm to invest $9.3m in Dhaka EPZ
NCC Bank inks deal with Islamic Exchange Qatar
UCBL opens branch at Kanaipur
Uttara Bank shifts Kawran Bazar branchat Jamuna Bhaban
Nazrul Hasan new MD of DPDC
'Rise or fall in share prices from all sectors creates panic'
BKMEA donates vehicles to industrial police
Berger Paints inks deal with Finley
Olitalia health seminar held
News from Trade Servers
Stocks fall on profit-taking
PBL opens money transfer service in London
IPDC, Prime Ins recommend stock dividends
HSBC Group reports $21.9b profit in 2011
Peoples Insurance gets new chairman
Capital market reporters hold work abstention
Bay Emporium opens outlet at Mirpur
Innotel hotel opens at Banani
AB Foods starts operation in N’ganj
SBL stands by two journo families
Sayed Nurul Islam, member of BEPZA (investment promotion) and Chun-Ta Huang, director of M/S Young Optics (BD) Limited, exchange documents after signing an agreement at BEPZA Complex in the city yesterday. sun Photo
Google Search
Double click on any word in Dailysun to see the full meaning in Bangla.
Todays Question : The govt is using legal tactics to tame opposition. Do you think it will help contain movement?
Yes   No

© 2013 The Daily Sun
Powered By:
jobs in bangladesh