Dhaka, Jan. 27 -- * Businesses remained silent when state intervention distorted financial system and money was smuggled out

* Low, capped interest rates are unlikely to return soon

* High rates are a governance problem, not just a monetary one

Bangladesh Bank Governor Ahsan H Mansur has sharply criticised the country's leading business organisations for what he described as their "puppet-like" conduct during the period when the government capped bank lending rates at 9 percent.

Speaking at a discussion in Dhaka on Tuesday, Mansur said prominent trade bodies, including the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI), had failed to act independently or responsibly when state intervention distorted the financial s...