Written by The Banking Post
Business leaders have urged the central bank to maintain exchange-rate stability and ease financing conditions, warning that existing macroeconomic pressures are already weighing on investment and production.
At a meeting with Bangladesh Bank Governor Mostaqur Rahman, the Federation of Bangladesh Chambers of Commerce and Industry called for no further depreciation of the taka, citing improved foreign-exchange reserves supported by stronger remittance inflows.
“There is no shortage of US dollars in the market,” business leaders said, urging the regulator to keep the exchange rate stable. The governor assured that there is no dollar crisis and warned of action against any unauthorised attempts to push up exchange rates.
To support exporters, FBCCI proposed expanding the Export Development Fund (EDF) to $5.0 billion from the বর্তমান level of about $2.3 billion, and reducing the interest rate on EDF loans to 2 per cent from 5 per cent. The fund had earlier been scaled down amid concerns over misuse and compliance with conditions tied to the IMF’s $5.5 billion programme.
Industry leaders also highlighted rising borrowing costs under the tight monetary policy stance. “We requested the central bank to take steps to reduce the policy rate to facilitate business and employment under the current sluggish scenario,” said a sector representative.
They further called for the resumption of a Tk 50 billion pre-shipment credit scheme, which has remained suspended since April last year.
Separately, the Dhaka Chamber of Commerce and Industry raised concerns over declining private-sector credit growth, which has dropped to 6.03 per cent—the lowest in over two decades. With the policy rate at 10 per cent, lending rates have climbed to around 16–17 per cent, making financing costly and less accessible, particularly for SMEs and manufacturers.
To ease the চাপ, DCCI proposed a gradual reduction in the policy rate or the introduction of subsidised loans for priority sectors such as manufacturing and export-oriented industries. It also called for stronger governance in the banking sector and more flexible loan rescheduling for businesses facing temporary distress.
Business leaders stressed that without timely policy support, high financing costs, energy shortages and weak demand could further delay economic recovery.
