A writ petition was filed with the High Court yesterday challenging the effectiveness of a circular of Bangladesh Bank (BB) that set the interest rate on bank loans at 9% from April 1.
Barrister Syed Sayedul Haque Sumon, a Supreme Court lawyer, filed the writ on behalf of an apprentice lawyer Mahfuzur Rahman.
The bench of Justice Tariq ul Hakim and Justice Md Iqbal Kabir are likely to hear the writ on Monday.
Three people, including the finance division secretary and Bangladesh Bank governor, were made respondents.
The writ mentioned that the central bank circular had no directives on deposit rate which might put at least two crore depositors at risk.
On February 24, BB asked scheduled banks to charge as high as 9% interest against all types of lending, barring credit cards.
The BB in its circular said current high bank interest rate regime was weighing on the country’s small, medium and large industries badly.