BB asks to bring down interest to single digit

MNA Business Desk: The Bangladesh Bank has asked the banks to take effective measures to bring down the interest rate on lending to single digit from the existing level, reported news agency.

The advice was made at two separate meetings of senior bankers held at the central bank headquarters in Dhaka on Monday with Bangladesh Bank (BB) governor Fazle Kabir in the chair.

The meeting also discussed interest rates, charged by the six state-owned commercial banks (SoCBs), on term deposits to other banks, the sources added.

On the other hand, the BB’s high-ups advised the senior representatives of Association of Bankers, Bangladesh (ABB) to start bringing down the interest rates on lending to single digit.