BB asks banks to publicise rate charts properly

Bangladesh Bank (BB) has instructed all scheduled banks to publicise their rate charts for deposit and lending in a proper manner, reports bdnews24.com.

The banks will display the interest rate matrix in their head offices and branches at suitable places where everybody can see it.

The central bank, in a circular issued Monday, clarified the interest rate disclosure guidelines as it found that the banks are not properly announcing the rates.

It said the banks would disclose the mid-rate of interest, and considering risks of any client, it could charge 1.5 per cent up or down of the disclosed rate.

The banks will send the interest rate matrix to BB by the 7th of any month, the circular added.

If the central bank has fixed or will fix any rate for export or any other sector, the banks won't be allowed to charge more than that.

View the original article here