Monday, 16 July 2018
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Number of govt banks with single digit double digit interest rate

Dr. Ahmed Al Kabir, Former Chairman of Rupali Bank: Government banks should lower their interest rates down to single digit. Authorities should investigate the number of banks with single digit and double digit interest rates. Those with two digits should lower their interest rates to single digit as well. Bangladesh bank should look into this as well.
Banks, reducing interest rate, should not be able to take unjust extra charges. All the banks should go with the process at the same time. Bangladesh Bank has to play a strict role to ensure that the banks sticks to their promises. They should closely monitor those who are implementing single digit and those who are not. Then it would be easy to ask for a show cause.
Private banks and foreign banks take a huge sum of service charge from their clients. Those banks are incapable of providing any service without taking any fees. I think service charges should not be too high. They should be kept in a tolerable level as much as possible.
In some cases the trend of increasing service charges was already visible. It won’t make much sense if the interest rates are brought down to single digit and the clients on the other hand are charged more for the services.
Based on an interview by Ashiq Rahman, translated by Sofian Khan.

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