Dhaka, Bangladesh, Dec. 26 -- The Bangladesh Bank (BB) board of directors has approved a proposal on a single-digit interest rate for industrial manufacturers to facilitate the country's economic growth.

The approval came at a meeting of the board of directors held at the central bank headquarters in Dhaka on Tuesday, with BB Governor Fazle Kabir in the chair.

"Our board has given a decision on 9.0 per cent interest rate on industrial manufacturing loans as well as working capital after reviewing a committee report," BB spokesperson Md. Serajul Islam told media after the meeting.

Mr. Islam, also executive director of the central bank, said the BB would issue a circular soon in line with the board decision.

He also expected that the si...