Change in banking sector a must for rapid industrialisation: Dilip
Friday, 23 April 2010
FE Report
A far-reaching change in the banking sector including dropping of bank loan interest to single digit is a must for rapid industrialisation of the country, Industries Minister Dilip Barua said Thursday.
He said banks give priority to product importers and businessmen instead of investors in industrial sector. Moreover, the entrepreneurs and the industrialists face difficulties in getting loans.
"Banks and the financial institutions need to change their mindset for the greater interest of the industry," he said.
The minister was speaking as chief guest at the inaugural ceremony of the three-day "Banking and Housing Fair '10" being held at Samurai Convention Centre in the city.
A total of 22 banking and housing companies are participating in the fair with a view to boosting remittance through banking channel and making expatriate service more popular.
Dhaka International Exhibition Company Ltd (DIEC) organised the fair which will remain open till 24 April from 10:00 am to 9:00 pm.
The minister called upon the banks to make easy access to loan for the small and medium entrepreneurs and women to form an industry-friendly economy.
Murshid Kuli Khan, deputy governor of Bangladesh Bank (BB), said after the enactment of anti-money laundering act and anti-hundi campaign, the inward remittance flow has increased, boosting the foreign currency reserve of the central bank.
"The expatriates remitted about $11 billion in 2009 through banking channel and it is a new record," he said.
The speakers said the country severely lacked in strong statistics regarding the actual number of the expatriates. They emphasised supplying skilled manpower to convert the wage earner to salary earner expatriates like other countries.
Helal Ahmed Chowdhury, MD and CEO of Pubali Bank Ltd, Khandaker Fazle Rashid, MD of Dhaka Bank and managing director (MD) and chief executive officer (CEO) of DIEC among others, spoke on the occasion.
A far-reaching change in the banking sector including dropping of bank loan interest to single digit is a must for rapid industrialisation of the country, Industries Minister Dilip Barua said Thursday.
He said banks give priority to product importers and businessmen instead of investors in industrial sector. Moreover, the entrepreneurs and the industrialists face difficulties in getting loans.
"Banks and the financial institutions need to change their mindset for the greater interest of the industry," he said.
The minister was speaking as chief guest at the inaugural ceremony of the three-day "Banking and Housing Fair '10" being held at Samurai Convention Centre in the city.
A total of 22 banking and housing companies are participating in the fair with a view to boosting remittance through banking channel and making expatriate service more popular.
Dhaka International Exhibition Company Ltd (DIEC) organised the fair which will remain open till 24 April from 10:00 am to 9:00 pm.
The minister called upon the banks to make easy access to loan for the small and medium entrepreneurs and women to form an industry-friendly economy.
Murshid Kuli Khan, deputy governor of Bangladesh Bank (BB), said after the enactment of anti-money laundering act and anti-hundi campaign, the inward remittance flow has increased, boosting the foreign currency reserve of the central bank.
"The expatriates remitted about $11 billion in 2009 through banking channel and it is a new record," he said.
The speakers said the country severely lacked in strong statistics regarding the actual number of the expatriates. They emphasised supplying skilled manpower to convert the wage earner to salary earner expatriates like other countries.
Helal Ahmed Chowdhury, MD and CEO of Pubali Bank Ltd, Khandaker Fazle Rashid, MD of Dhaka Bank and managing director (MD) and chief executive officer (CEO) of DIEC among others, spoke on the occasion.