REHAB seeks long-term loan for sector\\\'s expansion

FE Report | July 07, 2014 00:00:00

The country's realtors seek long- term loan from the commercial banks for the expansion of the real estate sector.

They placed the demand to commerce minister Tofail Ahmed at a meeting at the latter's secretariat office on Sunday to resolve problems of the real estate industry.

A 12- member REHAB (Real Estate and Housing Association of Bangladesh) delegation headed by its president met the minister.

They urged the commerce minister to talk to finance minister AMA Muhith and central bank governor Atiur Rahman in this regard and also requested to create a special fund for the real estate sector.

REHAB president Alamgir Shamsul Alamin said: "There are many countries that give loan for 20 to 40 years which helps the realtors expand the sector."

The commerce minister assured the realtors that he will discuss the issue with the finance minister and the Bangladesh Bank governor.

Mr Tofail said: "At this moment a lot of idle money is available in banks which can be given as loan to the realtors. It is necessary, he added."

REHAB senior vice president Rabiul Haque, vice presidents Liaqat Ali Bhuiyan and Anwaruzzaman and general secretary Md Wahiduzzaman were present, among others, at the meeting.