• Monday, Feb 18, 2019
  • Last Update : 12:05 pm

FBCCI president: Banks fail to slash interest rates

  • Published at 12:27 am February 13th, 2019
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FBCCI president Shafiul Islam said interest rates on lending could not be reduced to single digits, but there is a tendency to increase the lending rates

Banks have failed to keep their promise to bring down interest rates to single digits, but on the contrary, they have increased lending rates, FBCCI President Shafiul Islam Mohiuddin has said. 

He made the remark as the chief guest at a meeting of the council of chamber presidents on Tuesday at the FBCCI (Federation of Bangladesh Chambers of Commerce and Industries) office in Dhaka. Sheikh Fazle Fahim, FBCCI senior vice president and president of council of chamber presidents, chaired the meeting. 

Agendas of the meeting included giving opinions ahead of the next national budget, suggestions for increasing state revenue collection, and activities of the apex chamber during the present committee’s tenure.

Shafiul Islam said interest rates on lending could not be reduced to single digits, but there is a tendency to increase the lending rates. 

He urged Bangladesh Bank and Finance Minister AHM Mustafa Kamal to address the issue. 

“Several development works have been undertaken by the current committee, including a vocational training centre and a university – present vice president Sheikh Fazle Fahim played a key role in taking forward these tasks,” Shafiul added.

Khulna Chamber President Kazi Aminul Haque claimed that local revenue officials do not care for the district chambers. If the local chambers are included in the revenue collection process, then revenues will increase, he added.

Sylhet Women Chamber President Sharnalata Roy said that women's chambers should be included in district level training programs run by the government.

Rangpur Metropolitan Chamber President Rezaul Islam Milon said that taking permission from the district chambers to start any business should be made mandatory.

FBCCI Senior Vice President Sheikh Fazle Fahim listened to the statements of the district chamber leaders and assured them of taking necessary steps, through discussions with the ministries concerned, on the issues raised at the meeting. 

The chamber leaders, meanwhile, gave him their full support to vie for the post of president in the next committee (2019-2021). 

Recently, FBCCI’s election board announced that the biennial polls of the federation will be held on April 27.