Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) President Sheikh Fazle Fahim has reiterated that to increase desired investment and employment opportunities in Bangladesh, the bank interest rate should be fixed at single digit. He said the business cost will be reduced if the interest rate is cut down and simple rate is introduced. It will speed up the industrialization.
He urged the bank owners and managing authorities to make the system effective as social responsibilities. It is a time worthy task to make simple rate effective, he said this while addressing a view-exchange meeting held at Hotel Pan Pacific Sonargaon in the capital on Saturday.
Earlier in May, Finance Minister AHM Mustafa Kamal announced that the simple rate will be effective soon but it is yet to come into effect. During the meeting, the FBCCI boss said if the ongoing structural development is implemented, its positive impact will expedite the economy.
He also focused on the issue of agreement signing between Toronto University and proposed FBCCI University and Economic Research Centre aiming to facilitate Bangladeshi Technology and face business challenges. Among others, FBCCI senior Vice-President Muntakim Ashraf, Vice-Presidents Siddiqur Rahman, Mir Nizam Uddin, Nizamuddin Rajesh, Dilip Kumar Agarwal, were also present.
