Staff Correspondent

The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) has urged Bangladesh Bank to extend the loan repayment period for defaulters from three months to nine months.

The demand was made during a meeting with the central bank’s Governor, Dr Ahsan H Mansur, on Sunday, 26 January 2025.

At the meeting, FBCCI representatives proposed several measures to stabilise the economy, including controlling inflation, maintaining stable interest rates, and ensuring a steady supply of foreign currency.

They emphasised the need for policy support for unintentional loan defaulters to facilitate their rehabilitation within the economy.

The business leaders recommended support for industries and factories impacted by financial challenges, assistance for entrepreneurs to address losses from foreign exchange fluctuations and timely payments of export bills.

They also called for the expansion of special loan facilities for SMEs and the agricultural sector to foster a business-friendly environment in the country.

Particular attention was drawn to the importance of reducing interest rates to single digits to maintain the competitiveness of domestic industries.

In response, Dr Mansur reaffirmed Bangladesh Bank's commitment to ensuring discipline within the financial sector.

He called for the cooperation and support of the business community to achieve sustainable economic growth.

The FBCCI's recommendations come at a time when businesses are grappling with global economic challenges, and the organisation believes such measures are crucial to revitalising the country’s economic scenario, businesspeople said.