Keep rates above board, BB tells banks

Dhaka, June 20 (bdnews24.com) ? Bangladesh Bank has instructed all scheduled banks to publicise their deposit and lending rates in a proper manner.

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 Bangladesh Bank by the 7th of any month, the circular said.

If the central bank has fixed or will fix any rate for export or any other sector, the banks cannot charge more than that.

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

bdnews24.com/ssz/nir/2030h

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