Dhaka, Bangladesh (BBN) – Prime Minister of Bangladesh Sheikh Hasina has asked bankers to bring down the interest rates of loan to single digit to expedite investment in the country.
“Interest rates have to be slashed and this should be in single digit. Or else, the investment will not accelerate along with the employment generation,” she said while receiving donations for her Relief and Welfare Fund from the Bangladesh Association of Banks (BAB) at her official residence Ganobhaban in the capital on Friday.
The prime minister said banks will also be benefited by cutting down interest rates. “You’ll be benefitted if the interest rates are reduced to single digit … people will be more interested in working with banks.”
Investing in any venture will not be possible in the country unless the interest rates become logical and that is why it must be brought down to single digit, she explained.
The prime minister urged the bank authorities to keep up their promise by cutting the interest rates. “We’ve solved all problems that you had raised … now you’ll have to keep your commitments.”
BAB Chairman Nazrul Islam Mazumder also spoke on the occasion.
Country’s private commercial banks donated BDT 1.63 billion to the Prime Minister’s Relief and Welfare Fund.
In her speech, the prime minister thanked owners, chairmen and managing directors of different banks for their humanitarian support.
She mentioned that their donations are provided to the distressed, victims of disasters, sick and other extremely needy people to overcome financial problems.
Earlier, the prime minister distributed cheques of financial assistance among the family members of those killed and injured in the August 21, 2004 grenade attack.