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Private banks will receive half of government deposits: Muhith
Finance Minister AMA Muhith says the government will soon keep 50 percent of its total deposits at private banks in order to tackle the liquidity crisis.
Published : 1 April 2018, 09:52 AM
Updated : 1 April 2018, 01:40 PM
The finance minister made the statement during the Janata Bank annual meeting at the Sonargaon Hotel in Dhaka on Sunday.
“Currently, government institutions are required to keep 25 percent of their assets at private banks,” he said. “We are considering increasing this requirement.”
“We made the decision and soon government institutions will be required to deposit 50 percent of their assets at private banks.”
According to the current rules, 75 percent of government institution assets are currently kept at state-run banks. Managing directors and chairmen from various private banks have long urged the government to make larger deposits at their institutions.
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