9PC INTEREST RATE

HC refuses to hear petition challenging BB decision

A High Court bench yesterday refused to hold hearing on a writ petition that challenged the legality of Bangladesh Bank’s decision to set a maximum nine per cent interest rate on all loans except credit cards.

The HC bench comprising Justice Tariq ul Hakim and Justice Md Iqbal Kabir made the petition out of list saying that it has no jurisdiction to hear such

petition.

However, Supreme Court lawyer Barrister Sayedul Haque Suman, counsel for the petitioner, told reporters that he would move with the petition before another bench of the HC on Tuesday (today).

Law student Mahfuzur Rahman had filed the writ petition with the HC on March 1 seeking stay order on the circular and issued rule asking the government to explain why the Bangladesh Bank’s circular regarding 9 per cent interest should not be declared illegal.

 

9PC INTEREST RATE

HC refuses to hear petition challenging BB decision

A High Court bench yesterday refused to hold hearing on a writ petition that challenged the legality of Bangladesh Banks decision to set a maximum nine per cent interest rate on all loans except credit cards. The HC bench comprising Justice Tariq ul Hakim and Justice Md Iqbal Kabir made the petition out of list saying that it has no jurisdiction to hear such petition. However, Supreme Court lawyer Barrister Sayedul Haque Suman, counsel for the petitioner, told reporters that he would move with the petition before another bench of the HC on Tuesday (today). Law student Mahfuzur Rahman had filed the writ petition with the HC on March 1 seeking stay order on the circular and issued rule asking the government to explain why the Bangladesh Banks circular regarding 9 per cent interest should not be declared illegal.