Live up to single-digit interest rate promise: PM to bankers

Prime Minister Sheikh Hasina on Monday urged bank owners not to go back on their promise this time as in the past to bring down the interest rate to single digit.

"I’ve fulfilled all of your demands one after another, but you didn’t keep your promise. This time, you mustn’t break your commitment (to lower the interest rate). You’ll have to live up to your promise," she said.

The Prime Minister said this while addressing a programme at her official residence Ganobhaban where Bangladesh Association of Banks (BAB) donated Tk 225 crore to Father of the Nation Bangabandhu Sheikh Mujibur Rahman Memorial Trust to celebrate the birth centenary of Bangabandhu during the ‘Mujib Borsho' from March 17, 2020 to March 26, 2021.

As BAB Chairman Nazrul Islam Mazumder mentioned that the single-digit interest rate -- 6 percent for deposit and 9 percent for lending -- will be implemented from April 1 as per the deadline, she said, "I hope that it’ll come into effect. Or else, the investment will be hampered and it’ll face problems."

After a meeting with private banks’ sponsors and managing directors at the BAB headquarters recently, Finance Minister AHM Mustafa Kamal said banks would have to implement the 9 percent interest rate from April 1 next as per Prime Minister Sheikh Hasina’s instruction.

At the same time, banks will have to pay 6 percent interest on deposits, he had said.

The Prime Minister said the year of 2020 is very important for Bangladesh as it will celebrate the birth centenary of the Father of the Nation during the period.

After the 1975, she mentioned, the subsequent governments wanted to erase Bangabandhu’s name from history. "But no-one will ever be able to erase his name from the country’s history," she said.

Hasina said Bangabandhu liberated the country after a long struggle and the government just wants to ensure that the fruits of the independence reach each and every door of the country. "Even the most neglected people who are living in villages will enjoy the fruits of the independence. Their lifestyle will be improved and that’s our aim."

She said the people of the country will always move around the world keeping their heads high as the victorious nation. "They won’t bow down to anyone…. that’s our aim. We’ll always move with our dignity."

The Prime Minister also said Bangladesh is not legging behind compared to any other country of the world.

She urged all not to be crazy for bringing foreign investments here as entrepreneurs of the country are capable enough to invest in their own country. "We’re establishing 100 economic zones. You’ll invest there and foreign investments will also come. Everything will happen simultaneously."

Hasina said the government wants to build the country in such a way from where it needs not to look back again. "The unhindered advancement of Bangladesh has to be maintained. I just want that its march-forward must not collapse."

Earlier, the Prime Minister handed over cheques for financial assistance to an organisation and 23 individuals, including ailing freedom fighters, families of a number of Awami League workers killed by BNP-Jamaat terrorists, sports organisers and three gold medal-winning national athletes.

Hasina also provided three flats to Mahfuza Khatun Shila, Mabia Aktar Shimanto and Shakil Ahmed who secured gold medals in swimming, weightlifting and shooting respectively in the 12th SA Games.

Besides, the Prime Minister handed over keys of microbuses to authorities of Bangabandhu Government College at Pallabi in the capital and Nawab Siraj-Ud-Dowla Govt College in Natore.