AMA Muhith, who was finance minister for the past decade, also acknowledged the problem. We will neither send anyone to jail, nor will we stop (lending),” Kamal said in his first meeting as finance minister, asking the bankers to find new ways to get back the money lent. He asked them to keep in mind that the amount of bad loans rises when the difference between lending rate and deposit rate (interest rate spread) goes up. The minister also said the banks should set a target to bring the rate of nonperforming loan to 7-8 percent from 13 percent. “And we must work to make the people realise that they can make profit by taking loans,” he added

Source: bd News24 January 07, 2019 16:30 UTC