‘Govt determined to bring down bank loan interest to single digit’

Finance Minister AHM Mostafa Kamal today told parliament that the government is determined to bring down the bank loan interest to the single digit.

“Twenty-one banks have already decided to lower lending rates to single digits after a meeting with Prime Minister Sheikh Hasina in 2018,” the minister said in reply to a call attention notice raised by main opposition Jatiya Party MP Moshiur Rahman Ranga.

In his call attention notice, Ranga said although 11 banks are claiming that they have lowered lending rates to the single digit, but businessmen are claiming that in reality, they are paying 11 to 13 per cent interest rate against their bank loan.

In reply, the finance minister said he has already started discussions with owners and managing committees of different public and private banks to lower lending rates to the single digit.

“During the discussions, everyone expressed their positive attitude to bring down the bank loan interest rate to the single digit. I hope we will be able to find out solutions within a short time on bringing down the lending rate to single digit through a win-win situation,” the minister also said.

The minister in his speech said high rate in bank loan and loan default culture has been creating a negative impact for long on the country’s economy.

“I want to assure you in parliament that we will find out solutions regarding those issues.”

The finance minister also assured MPs that the loan default culture will not exist in the country and the amount of default loan will also not increase.