Bank loan interest rates max 9%

FT ONLINE

The government fixed interest rates maximum 9 percent for lending, and 6 percent for deposit from August 9 in all schedule banks.

Finance Minister Abul Maal Abdul Muhith made the disclosure after a meeting with the bank owners and managing directors (MDs) Thursday (August 2).

Bangladesh Bank (BB) Governor Fazle Kabir, Financial Institutions Division Senior Secretary Yunusur Rahman were present at the meeting in Sher-e-Bangla Nagar of Dhaka.

“We have made it (the decision) following instruction from the prime minister. It will come into effect from August 9,” said the minister.

However, Muhith further said the banks aren’t suffering any fluctuation crisis, at present.