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Investment, exports, imports on upturn during current fiscal

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December 6, 2000 

Dhaka-- (UNB) – Economic fundamentals peaked up in the current fiscal showing an encouraging trend that prompts finance experts to hope for the expected growth rate of 6 per cent.

Investment, exports, imports and other key indicators were on upturn during the period, it was observed in a meeting that decided to keep open all bank branches on December 30 (Saturday), one of the weekend holidays, to facilitate business.

Managing directors or executive presidents of nationalised, specialised and private commercial banks were present in the meeting, a regular event of the central bank governor to review the macroeconomic policy with the commercial banks.

Bangladesh Bank Governor Dr Mohammad Farashuddin chaired the meeting at his office. Senior central bank officials were also present.

The chief executives of the commercial banks agreed to operate all banking activities on the day considering staggering holidays before and after Eid vacation.

“Bangladesh Bank will issue a circular in this regard soon,” the Governor told UNB yesterday.

As per the official calendar of Bangladesh, December 22-31 are the holidays, bar December 26. If officials or employees get leave for the day, they would be able to enjoy holiday for 10 consecutive days.

December 22 and 23 are Friday and Saturday, weekly holidays, December 24 Shab-e-Qadr, December 25 Christmas, December 27-29 Eid-ul-Fitr and December 30-31 Friday and Saturday.

The central bank governor instructed the bankers to strengthen recovery of default loans, meeting sources said.

The meeting was informed that the classified loans would come down to 35 per cent at the year ending on December 31 from 40 per cent of the bank closing last December.

Some commercial banks, including foreign ones, were also instructed to maintain separate loan ledgers. The central bank has earlier issued a circular in this regard.

Out of total 49 commercial banks, 13 foreign ones are not maintaining separate books for loan account.

Farashuddin also instructed the bankers to follow an accelerated, skilled and transparent means to reach foreign remittances to the beneficiaries here.

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