HPM Sheikh Hasina for bringing down the interest rate to single digit

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Published on April 13, 2018
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Prime Minister Sheikh Hasina asked the bank authorities to bring down interest rate to a single digit to expedite investment in the country.

"I would like to tell you to cut interest rate, otherwise investment is not possible in the country ... it must be brought down to a single digit," she said while receiving donation for her Relief and Welfare Fund from the Bangladesh Association of Banks (BAB) at Ganabhaban on Friday.

The premier added: "You'll be benefitted if the interest rate is reduced to a single digit ... the people will be more interested in working with the banks." 

The prime minister urged the bank authorities to keep up their promise by cutting the interest rate. "We've solved all problems that you raised ... now you'll have to keep your commitment," she said.

BAB Chairman Nazrul Islam Mazumder also spoke on the occasion.

The banks under the BAB donated Tk 163 crore to the Prime Minister's Relief and Welfare Fund.

Pointing to the BAB chairman's comments on media's criticism about banks, the prime minister said there are some people who will write. "It's their work ... not to be disheartened with it, you'll have to do your work properly so that the country's socioeconomic development is made," she said.

Referring to Bangladesh's graduation to a developing country from the least developed country, the prime minister expressed her firm optimism that Bangladesh will be a developed country in near future.

"It will create many facilities like achievement of more GDP growth and investment. We won't now have to beg hand and take conditions from others," she said.

She said as an independent state, earning this achievement was very essential. "Now we'll have to retain this success," she said.

About the three major indices achieved by Bangladesh for graduation as a developing country from the LDC Group, Sheikh Hasina said it would not be difficult to maintain this achievement for the next six years as required.

The prime minister said many people used to see Bangladesh in the eyes of negligence when it was a least developed country. "But now we've come out of this situation as we got the status of a dignified country," she said. 

"We've to maintain this dignity and you (banks) have a role in this regard," she said. 

Sheikh Hasina said her government made open all the fields, including power, energy, banking, insurance, telecommunications and television, in the private sector. "It has created huge employment opportunities in the country," she said.

She said the rural people have now been accustomed to banking as they can open accounts with the banks with only Tk 10. 

In her speech, the prime minister thanked owners, chairmen, managing directors and directors for their donation in her relief fund.

She mentioned that their donations are provided to the distressed, victims of disasters, sick and other needy people to overcome financial problems.

Nazrul Islam Mazumdar, in his speech, mentioned that the there is now no problem in the private Farmers Bank. "The bank has gone to its previous position as new chairman has been appointed ... the bank has already recovered its Tk 257 crore default money," she said.

Earlier, the prime minister gave financial assistance to the injured of the August 21 grenade attacks and the family members of those killed in the grisly attack.

While handing over donation, the prime minister talked to them and consoled.