Home » Politics: Bangladesh » >private sector credit grows 50 percent

>private sector credit grows 50 percent

There was an error retrieving images from Instagram. An attempt will be remade in a few minutes.

My tweets

Error: Twitter did not respond. Please wait a few minutes and refresh this page.

Follow me on Twitter


>CREDIT growth in Bangladesh’s private sector, rose 50 percent to 115.51 billion taka ($1.68 billion) during the first five months of the current fiscal year, driven by growing demand from import and agriculture businesses, reports Reuters. (Click for article)
Credit in the private sector between July and November of previous fiscal year to end of June 2007 was 77 billion taka.

“It is a positive sign, as they (private sector) are the main engine for the growth of the economy,” said Murshid Kuli khan, a deputy governor of the central bank.
“The upward trend will continue further as the central bank follows a relaxed monetary policy to help economy grow,” Murshid told Reuters.
The central bank said in January it would pursue an expansionary monetary policy to ease credit facilities and would also keep a lid on inflation.
“We have asked all the banks to gear up loan allocations for agriculture, small and medium enterprises and rural infrastructure so that economy can run in its right truck to recover the losses after a series of natural calamities and also to improve the domestic supply situation,” he said.
The army-backed interim government is ramping up production of main staple rice after floods and a cyclone of last year left it with a shortfall of up to 2 million tonnes.
Bangladesh is under a state of emergency since January 2007, when the interim authority took power following months of deadly political violence.
It banned all political activity, protests and disruptions — and it has vowed to hold parliamentary elections late this year after completing a drive against widespread corruption.
(Conversion rate: $1 = 68.58 taka)


Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s


I welcome you all to my blog, a place where I share reports, articles and images of events taking place in Bangladesh and elsewhere in the world, which I think may be of interest to others. Please drop a few words if you feel like.
%d bloggers like this: