Syed Ashraf flays finance minister, Bangladesh Bank for ‘high’ interest rate on loans

He has blamed the ‘high’ lending rate for the drought of investment. 

He made the observation while interacting with businessmen in Kishoreganj on Saturday. 

“Bangladesh Bank and the entire finance ministry, including the finance minister, are suffering from a distorted judgment. They don’t have any outlook,” he said. 

In other countries, he said, one could get loan to do business at interest rates of two, three or five percent, but “only Bangladesh is an exception”.

Currently, banks in Bangladesh charge 12 to 17 percent interest on industrial loans. Businessmen and entrepreneurs have for long been demanding a reduction in interest rates.