BB fixes 9pc interest on import of 9 essentials

Bangladesh Bank (BB) fixed maximum 9 per cent interest on the import of nine essential commodities for keeping the prices of the commodities at tolerable level during the holy month of Ramadan.

The essential commodities are edible oil, chickpeas, lentil, dun peas, onion, spices, dates, fruits and sugar, according to a BB circular issued yesterday.

The decision has been taken to keep the prices of essential within the purchasing capacity of countrymen during the coming holy month of Ramadan, the central bank statement said.

The decision came about a week after Bangladesh Bank asked private commercial banks in the country to set a maximum 9 per cent interest rate on all loan products except credit card.

Earlier on February 24, Bangladesh Bank through a notification directed the private commercial banks to set a maximum 9 percent interest rate on all loan products except credit card effective from April 1. But, merchants have already started importing essential goods keeping in mind the coming Ramadan, it added.

Following this, the new interest rate will be effective from now on, the central bank added in its circular yesterday.

The central bank expected that the prices of all nine commodities will go down in the local markets before the month of Ramadan.

 

BB fixes 9pc interest on import of 9 essentials

Bangladesh Bank (BB) fixed maximum 9 per cent interest on the import of nine essential commodities for keeping the prices of the commodities at tolerable level during the holy month of Ramadan. The essential commodities are edible oil, chickpeas, lentil, dun peas, onion, spices, dates, fruits and sugar, according to a BB circular issued yesterday. The decision has been taken to keep the prices of essential within the purchasing capacity of countrymen during the coming holy month of Ramadan, the central bank statement said. The decision came about a week after Bangladesh Bank asked private commercial banks in the country to set a maximum 9 per cent interest rate on all loan products except credit card. Earlier on February 24, Bangladesh Bank through a notification directed the private commercial banks to set a maximum 9 percent interest rate on all loan products except credit card effective from April 1. But, merchants have already started importing essential goods keeping in mind the coming Ramadan, it added. Following this, the new interest rate will be effective from now on, the central bank added in its circular yesterday. The central bank expected that the prices of all nine commodities will go down in the local markets before the month of Ramadan.