BAB decides to bring down interest rates in single digit


DHAKA, June 20, 2018 (BSS) – Bangladesh Association of Banks (BAB) today
decided to bring down the lending rate at single digit and deposit rate of
the three months tenure at six percent from next month (July 1).

The decision came at an emergency meeting of the owners of private
commercial banks held at its office in the city, said a press release.

BAB Chairman Nazrul Islam Mazumder presided over the meeting.

BAB took the decision as per instruction of Prime Minister Sheikh Hasina
for accelerating the country’s development activities, the release added.

Earlier in April, government slashed cash reserve requirement or CRR of
banks by one percentage point to 5.5 percent for the benefit of private
commercial banks.