NRB CIPs to triple from this year

The government will increase the number of Commercially Important Person (CIP) status of non-resident Bangladeshis (NRBs) nearly threefold from this year to encourage the expatriates to send more remittances.

The government will also announce names of 35 NRB CIPs for fiscal year 2016-17 within June, 2019, reports UNB.

The CIP status is given to NRBs for their outstanding contributions to Bangladesh's economy. Currently, 35 NRBs are enjoying the CIP status. The Ministry of Expatriates' Welfare and Overseas Employment (MEWOE) issued a circular on January 10 and sent it to all Bangladeshi embassies and high commissions for distribution of the information among expatriates.

This year, the government will award CIP status to five highest NRB investors, 75 highest remittance senders and top 10 importers of Bangladeshi products.

"The government has decided to increase the number to inspire more people to send higher remittances through legal channel," MEWOE Additional Secretary Munirus Saleheen told the news agency.