Bangladesh's economy news. Additional interest on credit card, 18 banks to show reasons

The Bangladesh Bank has given instructions to show the reasons for the 18 banks to pay extra interest on credit card loan by disobeying the guidelines. At the same time, according to the policy, instructions have been issued for interest.

In a letter to the central bank, it has been ordered to report reasons within the next seven working days. Although credit card loans are directed to take a maximum interest rate of 5% more than other loans, these banks are typically charged with interest.

The banks are, state-owned public, foreign commercial banks of Ceylon, Eastern Region of Private Sector, Exim, IFIC, NCC, NRB Commercial, National, Midland, Madhumati, Standard, One Bank, Prime Bank, UCB, Dhaka, Jamuna, Premier and Mutual Trust The bank. In order to keep the credit card interest rate tolerable, the central bank issued a credit card policy in May last year.