FM wants end to bank swindling for investment rise

August 27, 2014

Foreign minister Abul Hassan Mahmood Ali on Tuesday said that if swindling of banks continued, it would affect the investment in the country. He said, ‘The businesspeople can apply for loans from banks. But swindling of banks must be stopped. Attack on banks must be stopped. All must follow rules.’ He made the remarks while speaking at a roundtable discussion on ‘Blue Economy of Bangladesh’ organised by the Board of Investment at its office in the city.
Replying to an appeal for bank loans at cheaper rate made by former president of Federation of Bangladesh Chamber of Commerce and Industry AK Azad, Mahmood said if the private sector required any short of assistance in exploring business opportunities in the marine sector, the government could extend its assistance like facilitating entrepreneurs to get loans from the banking sector with low interest.
‘But, the businesspeople should refrain from swindling banks,’ the foreign minister said.
Speaking on the Bangladesh Nationalist Party’s stance about the verd
icts on maritime boundary disputes with India and Myanmar, Mahmood said, ‘Despite government’s two remarkable achievements in maritime boundary dispute mitigation with two neighbouring countries, they [BNP] are always trying to find negative in such achievements.’
‘Though, they [BNP] did nothing in this regard when they were in power for ten years,’ he said.
It reflects their jealous sentiment over the Awami League government’s achievements, he said.
AK Azad said that it would be difficult for the businesspeople to invest in the blue economy sector with loans at 14-18 per cent interest.
The government should facilitate entrepreneurs to explore the business opportunities in the blue economy sector with loans at around 9 per cent interest like in the agricultural sector, he said.
Cash incentives also can play an important role in getting investors’ attention to the sector, he said.
BUILD chief executive officer Ferdous Ara Begum said that coordinated effort was very much essential for the better utilisation of business opportunities in the marine areas.
The government should focus on building marine experts for getting more reliable information on which businesspeople can rely for their investment purposes, he said.
Former principal secretary Sheikh Md Wahiduzzaman said that finding strategic partners was very much needed for the maximum use of the marine resources.
‘Without getting cooperation from the strategic partners, we will be loser.’
BoI executive chairman SA Samad presided over the meeting where prime minister’s power and energy adviser Tawfiq-e-Elahi Chowdhury, BoI member Dileep Kumar Das and officials of different ministries were present.

-With New Age input

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