Home ›› Economy ›› Banking

New US visa policy won’t impact economy in short term: ABB

Staff Correspondent
25 May 2023 14:10:03 | Update: 25 May 2023 14:13:02
New US visa policy won’t impact economy in short term: ABB

The new US visa policy will not impact Bangladesh’s economy and the banking sector in the short term, according to the Association of Bankers, Bangladesh (ABB).

“The USA is a big trade partner of Bangladesh and we do not think that our economy and the banking sector would impact negatively in the short term due to the new US visa policy introduced for Bangladesh,” said ABB Chairman Selim RF Hussain in a press conference in Dhaka on Thursday.

Replying to a question, Selim RF Hussain, also the managing director of BRAC Bank said that if our credit rating impacts negatively due to any reason, which will impact our economy.

“When the bank's credit rating falls then the country could have to expend extra fees and changers for foreign trade.” 

Hussain said that foreign trade, export, and import are vital components of our economy and we are heavily partnering with multilateral institutions and other foreign intuitions.   

When the country’s image remains good, then the credit rating will improve, he added.

US Secretary of State Antony Blinken issued a statement and also Tweeted recently, which said that the United States (US) has decided to deny visas to individuals, from law enforcers to political leaders, believed to be responsible for, or complicit in, undermining the democratic election process in Bangladesh.