I am very glad to know that the Bangladesh government is taking steps to fix single digit interest rate for all the commercial banks. It will largely boost our economy and bring more people in the industrial sector with big investments. When the interest will be less, the common people will be more eager to invest in business rather than keeping their money idle in banks. At present, our economy is experiencing a sluggish time. I hope the government will soon instruct the commercial banks to implement this single digit interest rate.
High interest rate discourages investment and business as a whole. Interest rate is much lower in our neighbouring countries. Living in a global village we cannot remain isolated and our industrial sector has to compete with the world market. If the interest rate is high it dampens competitive edge of our business. Now our banks charge 16 to 18 per cent interest which eats away a big chunk of profit and discourages the investors. I hope the government will do everything to make effective this single digit interest rate from 1st December 2014 so that in the New Year our economy can get a much needed boost.
Mohammed Sohel Hara
Bana Shree Dhaka
sohelhara@hotmail.com
Reducing interest rate to single digit
FE Team | Published: November 28, 2014 00:00:00 | Updated: November 30, 2026 06:01:00
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