Bank for expatriates in 'four months'
Saturday, 10 April 2010
The proposed bank for expatriates will start its journey in three or four months with a mission to offer financing as well as check harassment of Bangladeshi migrants.
"We have already finalised the draft rules and regulations of the new bank and sent it to the finance ministry for review," Secretary in-charge of the Ministry of Expatriates Welfare and Overseas Employment Dr Zafar Ahmed Khan told BSS Friday.
After getting nod from the finance ministry, it will be submitted to the Law Ministry and it is expected that the new bank will be opened in three to four months, he said.
The work plan of the new bank has been prepared after discussions with the country's eminent economists and bankers including Bangladesh Bank Governor Dr Atiur Rahman, the secretary said.
The bank will be a landmark towards ensuring welfare of about 7.60 million Bangladeshi expatriate workers residing in about 100 different countries around the globe.
The bank would be established in the capital initially with a fund of Tk 6.0 billion, of which, Tk 1.0 billion will come from the Expatriate Welfare Ministry and the remaining Tk 5.0 billion from the government subsidy, Mr Zafar said.
"We have a plan to increase the fund of the bank gradually as it's not adequate, if the expatriates' contribution to the national economy and the number of overseas workers are considered," he added.
"We have already finalised the draft rules and regulations of the new bank and sent it to the finance ministry for review," Secretary in-charge of the Ministry of Expatriates Welfare and Overseas Employment Dr Zafar Ahmed Khan told BSS Friday.
After getting nod from the finance ministry, it will be submitted to the Law Ministry and it is expected that the new bank will be opened in three to four months, he said.
The work plan of the new bank has been prepared after discussions with the country's eminent economists and bankers including Bangladesh Bank Governor Dr Atiur Rahman, the secretary said.
The bank will be a landmark towards ensuring welfare of about 7.60 million Bangladeshi expatriate workers residing in about 100 different countries around the globe.
The bank would be established in the capital initially with a fund of Tk 6.0 billion, of which, Tk 1.0 billion will come from the Expatriate Welfare Ministry and the remaining Tk 5.0 billion from the government subsidy, Mr Zafar said.
"We have a plan to increase the fund of the bank gradually as it's not adequate, if the expatriates' contribution to the national economy and the number of overseas workers are considered," he added.