FBCCI welcomes lending rate cut

  • Staff Correspondent, bdnews24.com
    Published: 2020-02-26 05:27:31 BdST

The Federation of Bangladesh Chambers of Commerce and Industry has welcomed the central bank move to cap interest rates on all loan products except credit cards at 9 percent from Apr 1.

“This is a relief from the finance ministry and the Bangladesh Bank for entrepreneurs. We have long been advocating for lessening cost of doing businesses in our country. We welcome the move,” the top trade body’s President Sheikh Fazle Fahim said in a statement on Tuesday.

The FBCCI expressed gratitude to Prime Minister Sheikh Hasina for the lending rate cut.

“We are encouraged that it is one element of ease of doing business in our country which will help the economy to grow through new investment and expansion,” Fahim said.

He also urged Finance Minister AHM Mustafa Kamal to sit with the stakeholders to “re-examine overall banking operational models to minimise unproductive expenditures”.