Wednesday, 12 May 2021

Money & Trade

Interest rate will be in one digit: Finance Minister

Newsg Reporter 1 April , 2018, 17:55:45

  • Interest rate will be in one digit: Finance Minister

Dhaka: Finance Minister Abul Maal Abdul Muhith has said that 50 percent of the public fund's could be deposited in a private bank to meet the bank's financial standing. He said that the decision was taken on Saturday (March 31) under the pressure of bank entrepreneurs.

The finance minister held a meeting with top officials of government financial sector, including chairman of private sector banks, managing director on Saturday.

He said, on Saturday I decided - to meet the financial crisis 50 percent of the government funds can be kept in the private bank. Currently it can be kept up to 25 percent.

The Finance Minister gave his decision yesterday as the chief guest at 'Janata Bank's Annual Conference' at Hotel Sonargaon at around 11:30 pm on Sunday (April 1st).

On the occasion, Muhith said that the big challenge in the banking sector is how to create a capital market. Only a small group will be given responsibility soon.

Referring to the report of the Bangladesh Bank in February, the finance minister said, the report shows that traders of interest in two commercial banks of all 57 commercial banks are now counting interest. Of this, some banks are charging more than 15 percent interest on loans against industrial loans. Interest rates can be reached. Looking at it.

He said, we saw this year the interest rates of banks started increasing. There is no logic to increase interest rates. Because there is no problem in liquidity (liquidity).

The Finance Minister also said that the main purpose of government jobs is to provide service, not to order. He urged all to pay attention to increasing the character of service.

Referring to the election year this year, she said, there is no scope to obstruct stability in the economy. Before the elections, the 'different' situations were created, which is not now.

In his speech, Bangladesh Bank Governor Fazle Kabir said in the speech that the bank will not be very interested to pay big money for the development. But small and medium lone should be paid more. An action plan will be taken to reduce the number of bank's losses. Internal audit activities need to be strengthened. The issue of governance will be strengthened further.

Janata Bank Chairman Luna Shamsuddoha said in the speech that the promotion of Janata Bank will be started from this month. According to the instructions and suggestions of the board of directors, the right person will be posted in the right place.

He also said that all the modules will be brought online this year. In addition, efforts are being taken to increase the number of ATM booths, internet banking, mobile banking and call centers.

Luna Shamsuddoha also mentioned about bringing a blockchain to promote safety in the banking transaction service.

Bangladesh Bank governor Fazle Kabir, chairman of Bangladesh Association of Banks (BAB) Nazrul Islam Majumdar, organizer of Awami League Sheikh Hasina's private sector development adviser and chairman of IFIC Bank Salman F Rahman, chairman of Premier Bank and former Awami League MP HMM Iqbal, Managing Director and Chief Director of Dhaka Bank Senior officials of financial sector including Syed Mahbubur Rahman were also present.

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