Pro-private sector, but lacks direction

FBCCI on MPS

Federation of Bangladesh Chambers of Commerce and Industry (BFCCI) termed new monetary policy statement (MPS) as pro-private sector but it lacks policy guideline on recovering non-performing loans and checking ‘black money’, reports BSS.
According to the monetary policy launched by Bangladesh Bank (BB) for January-June period of fiscal year 2016-17 (FY17) private sector credit growth and domestic credit growth are projected to grow by 6.5 per cent and 16.4 per cent.
“We find it OK,” said FBCCI President Abdul Matlub Ahmad while talking to the news agency.
“But during our meeting with BB, we have requested them to give a policy guideline for recovering of non-performing loan, which is over Tk 60,000 crore,” said Matlub Ahmad.
“We expected some steps from BB’s side in this respect,” he added.
About the ‘black money’, he said, FBCCI recommended taking some measures by BB in its monetary policy to check money laundering but it did not take any step in this regard also.
Matlub Ahmad said, “BB needs to do something for checking money laundering”.

 

Pro-private sector, but lacks direction

FBCCI on MPS

Federation of Bangladesh Chambers of Commerce and Industry (BFCCI) termed new monetary policy statement (MPS) as pro-private sector but it lacks policy guideline on recovering non-performing loans and checking black money, reports BSS. According to the monetary policy launched by Bangladesh Bank (BB) for January-June period of fiscal year 2016-17 (FY17) private sector credit growth and domestic credit growth are projected to grow by 6.5 per cent and 16.4per cent. We find it OK, said FBCCI President Abdul Matlub Ahmad while talking to the news agency. But during our meeting with BB, we have requested them to give a policy guideline for recovering of non-performing loan, which is over Tk 60,000 crore, said Matlub Ahmad. We expected some steps from BBs side in this respect, he added. About the black money, he said, FBCCI recommended taking some measures by BB in its monetary policy tocheck money laundering but it did not take any step in this regard also. Matlub Ahmad said, BB needs to do something forchecking money laundering.