Writ challenges BB circular on single-digit loan interest

|| Published: 2020-03-01 13:47:01 || Updated: 2020-03-01 13:47:01

A writ petition was filed with the High Court on Sunday challenging a Bangladesh Bank circular that fixed 9 per cent loan interest.

Law student Mahfuzur Rahman filed the petition with the High Court, said Supreme Court lawyer Barrister Sayedul Haque Suman.

The petition will likely be heard by the bench of Justice Tariq ul Hakim and Justice Md Iqbal Kabir, UNB reports.

Barrister Suman said Bangladesh Bank issued a circular on Feb 24 announcing that no loan would cost more than 9 per cent interest. The circular does not have any word about depositors.

He said they challenged the legality of the circular and sought an interim order on its effectiveness.

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