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FRIDAY , NOVEMBER 5, 2004   RAMADAN 23, 1425 A.H.           Yar'adua urges scrapping of interests by banks From Bala Abubakar, Katsina THE Katsina state governor, Alhaji Umaru Musa 'Yar'adua has appealed to commercial banks nationwide to scrap interest rates being charged on loan advancements. The governor made the appeal in Katsina when he receive the chairman of Diamond Bank Plc, Chief Pascal Dozie who paid him a courtesy call in his office. He observed that the high interest charge by commercial banks while issuing loan to people always made investment difficult and suggested for a longer period of loan repayment so as to boost the economy. Alhaji 'Yar'adua said high interest rate and stiff condition of loan and advance strangle, business and trade and urged the bank to take a leading role in offering waiver on its loans and repayment interest to enable business to flourish. The governor commended the bank for its good investment in the real sector of the economy enjoining the banking industry to mobilize funds to go into productive economy for the growth of the country. He requested the management of the bank to enter into partnership with the state government to development agararian economy. Responding, Mr. Dozie told the governor that their bank focuses attention mainly on the development of agriculture and agro allied industries. The bank chairman who wanted support and cooperation from the state government said the bank give 34 per cent on the manufacturing sector, 28 per cent on gas and oil and the remaining percentage goes to trade and other sectors. SITE TOOLS Print This Page   EMAIL THIS PAGE Friend's Name: Friend's  Email: Your Name: Your Email:           � Triumph Publishing Company Limited 2004

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