Chairman of the Association of Bankers Bangladesh Limited (ABB) Selim RF Hussain has said that the instability in the dollar market will be controlled soon.

The Bangladesh Bank has taken several big steps for the forex market whose result will be evident in a few days, said Selim RF Hussain, who is the managing director and chief executive officer (CEO) of Brac Bank Limited, during a press conference at the head office of Brac Bank Limited on Thursday.

Pointing out that the prices of many commodities, including petroleum, have started to fall, he said, "The results will be seen within a month or two. There will be stability in the dollar market." 

He also said that stability does not mean that the price of the dollar will fall to Tk84. It means that it will come to a steady state. 

"Now whether it will be steady at Tk96/98 or Tk100, I can't say. It is a matter of supply and demand in the market," said the ABB chairman.

Disagreeing to the notion that "loan defaulters have been given a big opportunity" the ABB chairman said that since the central bank has given the responsibility of default loan rescheduling to the banks, now their responsibility has increased. 

Banks will be able to provide better service to customers, he said adding that the Bangladesh Bank inspection team will come and strictly monitor the banks as well.

Salim RF Hussain said that due to the new guidelines of the Bangladesh Bank on defaulted loans, the time required for approval of loan rescheduling will decrease. Now banks can do that within 7-10 days.

ABB Chairman thanked Bangladesh Bank Governor Abdur Rouf Talukder for announcing a refinance scheme of Tk25,000 crore in the cottage, micro, small and medium enterprises (CMSMEs) sector.

He said, the operating cost to provide loans to the CMSME sector is high. NPL is also high here. Hence, bankers do not want to do this business unless the margin is increased.