Dhaka, Bangladesh (BBN) - The central bank of Bangladesh has asked the commercial banks to keep the lending rate on import financing for nine essential food items at maximum 12 percent.
The essentials are: edible oil, gram, pulses, peas, onion, spices, date, fruits and sugar.
"We've reminded the banks to continue the interest rates on the items for keeping the prices of essentials at a reasonable level before and during the holy month of Ramadan," a senior official of the Bangladesh Bank (BB) said.
In May 2009, the central bank asked the commercial banks to bring down the lending rate on import financing for nine essential food items to a maximum of 12 per cent from 13 per cent.
The BB official also said the move will also help ensure smooth supply of the essential items in the local market during the period.
Normally, a large quantity of essential commodities is imported to meet the additional demand of consumers during the month of Ramadan, the month of fasting.
The central bank issued a circular in this connection on Thursday and asked the chief executives of all scheduled banks to strictly follow the circular.
The banks have been asked to fix various bank charges including fees and commissions for importing the items at reasonable level.
BBN/SS/SI/AD-07May-11:33 pm (BST)