Wage Earner Bond ceiling to go: Adviser

The government has decided to lift the ceiling on the Wage Earner Development Bond investment to accelerate expatriates' remittance flow.

Asif Nazrul, Adviser to the Ministry of Expatriates' Welfare and Overseas Employment, disclosed the information while addressing a press conference at the Probashi Kallyan Bhaban in the capital on Tuesday.

He said, "Now the maximum limit for the wage earner bond investment is Tk 10 million. We have proposed to lift it, and it will require assistance of the Bangladesh Bank (BB). We hope the central bank will do it."

"We have also discussed with 12 other banks to provide migration loans, like the Probashi Kallyan Bank. We have told them that the expatriates need loans, and the banks can start schemes for them."

"The banks have also agreed, but they need credit guarantee. The expatriates' welfare ministry secretary has talked with the BB Governor about the issue."

"I hope the credit guarantee will be available soon. If it is confirmed, the 12 banks will be able to give loans to them."

Asif Nazrul further said the expatriates will get VIP services at the airport.

"When a VIP goes to the airport, s/he is accompanied by someone for baggage and checking, and someone at immigration. We will introduce similar services for the Bangladeshi migrant workers at each level."

"In the first phase, we have targeted the Middle East, then Europe." Most of Bangladesh's labour markets are in the Middle East. In the first phase, the workers going to the Middle East will receive VIP services when they return," he added.

[email protected]