A Comparative Analysis of Commercial Bank Loans in The Economic Development of SAARC Countries

Mohammad Nazrul Islam

doi:10.25163/primeasia.560018

Multidisciplinary research and review journal | Online ISSN 3064-9870

RESEARCH ARTICLE (Open Access)

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A Comparative Analysis of Commercial Bank Loans in The Economic Development of SAARC Countries

Mohammad Nazrul Islam ^1*

+ Author Affiliations

Journal of Primeasia 1.3 (1) 1-6 https://doi.org/10.25163/primeasia.560018

Submitted: 05 October 2020 Revised: 14 December 2020 Published: 23 December 2020

Abstract

This study determined a comparative analysis of commercial bank loans which played a significant role in the economic development of SAARC countries. Findings reveal how loans and credit affect the GDP, poverty alleviation and economic growth of different SAARC countries except sustainable development. Research is based upon the secondary data and results identified that higher rate of interest in most countries which is one of the main barriers for borrowers. It is also identified that bank loans does affect GDP, Poverty alleviation and overall economic growth of most countries but sustainable development will not occur unless Bangladesh can make sure that it development partners around the globe are willing to co-operate for mutual benefit. The general role of commercial banks is to provide financial services to general public and business, ensuring economic and social stability and sustainable growth of the economy. Commercial banks mostly provide short term loans and in some cases medium term financial assistance also to small scale units. Most of the commercial banks have got specialized units in their administrative structure to take care of the financial needs of the small scale industrial units. Therefore commercial bank loans helps for smoothing the commerce and trade function. Capital formation, financing Industry and trade, support agricultural development and financing consumer activities and helping in monetary policy among the SAARC countries.

Keywords: social stability, GDP, economic growth, loans, tax, poverty alleviation

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