His comment came on Wednesday against the backdrop of the widespread concern among savings certificate holders, mainly from pensioners and middle-class people following interest rate cut of postal savings scheme, reports UNB. The government on February 13 slashed the interest rate on savings in post office by half to facilitate implementation of the single-digit interest rate in the country’s banking sector. Meanwhile, the interest rate on savings in ordinary accounts of post office has also been reduced to 5% from 7.5%. Mustafa Kamal, however, questioned the idea of keeping interest of saving certificates higher while bank interest rate is getting lower. I do agree that in one push, the interest rate should not be slashed to half,” he added.

Source: Dhaka Tribune February 19, 2020 14:48 UTC