BB Caps Import Interest At 12% For Ramadan
Tuesday, 05 May 2009

The central bank has capped interest rate at 12 percent on opening letter of credit for import of edible oil, grams, pulses, peas, onions, spices and fruits in a bid to keep prices bearable in Ramadan.

The Bangladesh Bank announced the move on Tuesday in a first major decision under new governor Atiur Rahman, who took over on May 3.

A circular has been sent to the chief executives of all banks.

Currently, different banks charge different rates of interest for financing these essential foodstuffs.

Last month the central bank determined the interest rate on bank loan at a maximum 13 percent.


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