MPs call on banks to assist in crisis, reduce interest rates

Calls from some MPs towards banks to reduce interest rates and assist in businesses from bankruptcy have been issued due to the current situation with the Covid-19 virus in the country.

Today, MPs called on banks in the country to refrain from business activities and assist the public. Central Maafannu MP Ibrahim Rasheed said today that this was not the time for everyone to stop work and stay indoors but was the time to assist in any way and manner they can. He added that this was the time for people to open up opportunities to earn income.

“Interest rates have to be brought down to zero. Banks are trying to take unfair advantage of this time and have been calling people to take loans of 18 percent. Banks do not have to conduct business right now. Rent rates also have to be brought down right now.” said MP Rasheed.

 He noted that fishermen and those in the agriculture industry have to work with an added boost and called on the government to open the seas to fishermen and allow fish processing all across the country.

“(Banks) Don’t place huge loans on businessmen at this time. In addition to packages, the government should assist in the loans and difficulties for medium-sized businesses by providing financial assistance to sustain.” were the words of Felidhoo MP Ibrahim Fazul Rasheed.

Makunudhoo MP Mohamed Raee stated that this was a difficult time for the government and accepted that it would take time for the government to accomplish things before calling for everyone to cooperate with the government.

“The government has to think about things constructively. I request that the government not do anything that might result in harm to our farmers, fishermen and resort workers as well as medium-sized businesses. (To) Care for them.” said MP Raee.