Tag Archives: rate

BB circular soon for implementing single-digit interest rates

interest

MNA Business Desk: The Bangladesh Bank will issue a circular immediately asking the scheduled banks to ensure single-digit interest rates on both lending and deposit. Finance Minister A H M Mustafa Kamal made the announcement after a meeting with chairmen and managing directors of the different scheduled banks at the central bank headquarters in the city on Sunday. The BB circular will ask the scheduled banks to bring down the interest rates on lending and deposit to 9.0 per cent and 6.0 per cent respectively. Kamal informed that sixteen banks, including seven state-own banks, have already charged single-digit lending rate ...

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Co-operatives call to withdraw 15 per cent income tax

Co-operative

MNA Business Desk: Co-operative leaders have urged the government policy-makers including the Ministry of Finance to withdraw 15 per cent income tax on co-operative societies. The Co-operative Credit Union League of Bangladesh Limited (CCULB) in a statement signed by its Chairman Jonas Dhaki and Secretary Emdad Hossain Malek, said the existing income tax had been hampering the socio-economic development of distressed and under-privileged people. The 15 per cent tax was imposed on the income of co-operative societies since 2015. As a result, the formation of capital by small -income societies through small savings, creation of employment, poverty reduction and domestic ...

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