Islami Bank Bangladesh Limited has decided to reduce the profit rate of investment from July 1, 2018 to the single digit for the sake of continuing the country's development trend led.
Islami Bank has taken this initiative following Prime Minister Sheikh Hasina's recent guidance to bring down the profit rate of the banks to single digit.
Through this initiative, Islami Bank has been working as a partner in the government's development activities to establish Bangladesh as a middle-income country by developing investment-friendly environment, creating new entrepreneurs and developing trade and commerce.
The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) has hailed Islami Bank Bangladesh Limited (IBBL) for its move to bring down interest rate to single digit from July 1, the first day of fiscal year 2018-19. "We, the business community, thank IBBL for its decision to bring down the interest rate to single digit . . . it will encourage and intensify the country's existing development trend," said the apex trade body in a statement yesterday.
This move of IBBL will boost the confidence of businesspeople and encourage them to work for creating more jobs in the country, said the FBCCI.
As Bangladesh is graduating from LDC to a developing Nation, and there are huge development activities in the country, this deduction of interest rate will encourage the investors as well as the business community.
To create an industry and business friendly environment and to create new entrepreneurs other banks will also follow it, FBCCI hoped.
FBCCI also urge for proper monitoring of the Ministry of Finance and the Bangladesh Bank in this regard. FBCCI firmly hope that Bangladesh will attain the Sustainable Development Goal by 2030 and will be a developed country by 2041 under the leadership of Prime Minister Sheikh Hasina.
The business community of the country is also working relentlessly hand in hand by the government to build a developed country.
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