Writ filed challenging BB directives on lending rate
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Barrister Syed Sayedul Haque Sumon, a Supreme Court lawyer, filed the writ on behalf of an apprentice legal professional Mahfuzur Rahman
A writ petition was filed with the High Court yesterday challenging the potency of a circular of Bangladesh Bank (BB) that set the interest rate on loans at 9% from April 1.
Barrister Syed Sayedul Haque Sumon, a Supreme Court lawyer, filed the writ with respect to an apprentice legal professional Mahfuzur Rahman.
The bench of Justice Tariq ul Hakim and Justice Md Iqbal Kabir will probably hear the writ on Monday.
Three people, like the finance division secretary and Bangladesh Bank governor, were made respondents.
The writ mentioned that the central bank circular had no directives on deposit rate which can put at least two crore depositors at risk.
On February 24, BB asked scheduled banks to charge as high as 9% interest against all types of lending, barring bank cards.
The BB in its circular said current high bank interest regime was weighing on the country’s small, medium and large industries badly
Source: https://www.dhakatribune.com
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