Kamal to sit with private banks on Sunday
BB carried out the instruction, sending letters to private bank high-ups and asking them to attend the meeting
Finance Minister AHM Mustafa Kamal will hold a meeting with chairmen and managing directors of all private banks on Sunday at Bangladesh Bank (BB) headquarters. This will be the second meeting of the minister with the chairmen after assuming office.
BB Governor Fazle Kabir will preside over the meeting in which they will discuss the latest developments in the banking sector, according to central bank sources. On Thursday, the Ministry of Finance sent a letter to the central bank asking them to arrange the meeting.
BB carried out the instruction, sending letters to private bank high-ups and asking them to attend the meeting.
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During the first meeting with Banks Association of Bangladesh (BAB) in January this year, the finance minister announced that Non-Performing Loans (NPL) would not increase further, even by a penny.
In March, the central bank issued a relaxed loan rescheduling package allowing defaulters to regularize their loan at 2 percent down payment, for 12 years.
However, the volume of defaulted loan increased to 11.87 percent in March this year from 10.30 percent in December last year, according to BB data.
