Date: 18-04-2019 Time: 4:14:04 pm
TOP NEWS Kamal urges banks to reduce interest rate for expansion of trade

Kamal urges banks to reduce interest rate for expansion of trade

Post by: mhniazkhan | Published: March 9, 2018 , 5:59 pm | Category: TOP NEWS

Dhaka, Broadcasting News Corporation :Planning Minister A H M Mustafa Kamal has urged the commercial banks to cut their rate of interest for the greater interest of the expansion of the country’s trade.

“Business organizations cannot make profits here because the interest rate of banks is very high. Banks should reduce the interest rate for the expansion of trade in the country,” said the minister while addressing a seminar “Role of Banks in e-GP and Way-Forward’ here Thursday.

The Central Procurement Technical Unit (CPTU) of Implementation Monitoring and Evaluation (IME) Division, Ministry of Planning organized the seminar with IMED Secretary Farid Uddin Ahmad Chowdhury in the chair. State Minister for finance and planning M A Mannan, Deputy Governor of Bangladesh Bank Shitangshu Kumar Sur Chowdhury and Country Director of the World Bank Qimiao Fan, among others, spoke at the seminar.

Managing Director of Agrani Bank Mohammad Shams-Ul Islam and Managing Director of United Commercial Bank Muhammed Ali attended the seminar as guests.

The planning minister also urged that banks to provide loans through proper scrutiny. He said bankers consider them as owner of bank which is not right. People are the owner of bank in real sense,he said and added that banks needs to be brought out from family influence.

About 300 participants attended the seminar where representatives of various banks suggested a uniform rate of service charges for receiving payments in e-GP.

Some participants said service charges taken by various banks from tenders for payments in electronic government procurement (e-GP) need to be rationalized as bidders face problems at the district level when these rates vary significantly from bank to bank. They also suggested expansion of services of banks for e-GP at local level.