BB starts work on industrial lending rate cut
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Dhaka, Bangladesh, Dec. 4 -- The central bank has started working on bringing down the industrial lending rate to a single-digit in line with the Ministry of Finance (MoF)'s advice.
Under the move, the Bangladesh Bank (BB), the country's central bank, has sought information on outstanding industrial (manufacturing) loans from the scheduled banks within 48 hours which will end on Wednesday.
The banks have been instructed to provide the information in a prescribed format to the Department of Offside Supervision (DOS) of the BB through e-mail, according to an emergency instruction issued by the BB on Monday.
According to the instruction, the banks will have to provide the weighted average lending rates (WALR) on outstanding large industri...
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