Bangladesh Bank Governor Dr Ahsan H Mansur assured business leaders on Thursday that the next monetary policy, due early next year, will take an expansionary stance to ease borrowing costs.
During a meeting with representatives from 14 business associations, including the Federation of Bangladesh Chambers of Commerce and Industry, Bangladesh Garment Manufacturers and Exporters Association, Bangladesh Knitwear Manufacturers and Exporters Association, Bangladesh Textile Mills Association, and Bangladesh Reconditioned Vehicles Importers and Dealers Association, the business community urged the governor to cut interest rates, as the current borrowing costs of around 14% are undermining their competitiveness.
The business leaders also requested an extension of the committee formed for loan rescheduling and asked for loans smaller than Tk 50 crore to be included in the rescheduling process.
Furthermore, they urged the governor to ease banking services for export-oriented industries.
Dr Ahsan H Mansur assured them of continued support from Bangladesh Bank for the small and medium-sized enterprises sector.
