Bankers agree to reduce interest rate on loan for food import

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Commercial banks Wednesday agreed to refix their lending rate on the loans for importing food gains at 12 per cent from the existing 13.0-14.0 per cent, report agencies. The new rate was agreed upon, when chairmen of different commercial banks under the Bangladesh Association of Banks (BAB) called on Prime Minister Sheikh Hasina at her office in the city. The chairmen of private banks instantly agreed to reduce their lending rate to 12 per cent when it is suggested by Sheikh Hasina at the meeting, said Prime Minister's Press Secretary Abul Kalam Azad. Azad told reporters that the Prime Minister underscored the need for securing sufficient food stock in the country so that the people do not face any crisis. She put emphasis on relaxing lending rate on the credits given for food grains import for building necessary stock. During the meeting, the chairmen of banks informed the Prime Minister of various problems faced by their banks. Among others, President of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) A K Azad, IFIC Bank Chairman Salman F Rahman, Marchentile Bank Chairman M. Abdul Jalil and President of BAB Nazrul Islam Mazumder, attended the meeting. Principal Secretary to the Prime Minister (PM) M A Karim and Press Secretary to the PM Abul Kalam Azad were also present at the meeting.