PKB doles out Tk 400m in loan last yr

Talha Bin Habib | Published: February 08, 2014 00:00:00 | Updated: November 30, 2024 06:01:00

The Probashi Kallyan Bank (expatriates' welfare bank) has disbursed Tk 400 million in loans to the migrants so far with a satisfactory recovery rate, a top official of the bank, said.
"We have disbursed Tk 400 million as migration loans since the functioning of the bank with 95 per cent recovery rate," Managing Director (MD) and Chief Executive officer (CEO) of the bank CM Koyes Sami told the FE Friday.
He said that so far 3,600 people have gone to different countries with jobs by taking loans between the calendar years of 2012 and 2013.
The objectives of the bank are to assist the intending migrant workers and rehabilitate those returned from abroad by providing them with soft loans.
It also functions to collect, distribute and invest the remittances sent home by the Bangladeshi workers who are currently working in different countries.
Mr Sami said that 33 branches are now functioning in different districts of the country. And the number will be increased in future considering the growing demand of migration loan.
"We have a target to increase the number at least 40 by the end of the year (2014)," he said. Â
He said that within the next two years 10,000 people are expected to go to Malaysia under government to government (G to G) arrangement. It is expected that most of them will take loans from the bank.
The MD and CEO of the bank said the main goal of the bank is to ensure welfare of the migrants rather than making profit.
"Profit is not our main goal, rather we try to ensure migrant people's welfare," he said.
The official said the bank is now providing Tk 130,000-150,000 for going to the Republic of Korea (ROK) while for United Arab Emirates (UAE), Singapore, Saudi Arabia and Mauritius the amount is Tk 100,000 and for Hong Kong it is Tk 130,000 and for Malaysia Tk 30,000.
Prime Minister Sheikh Hasina inaugurated the bank on April 20, 2011. Before the functioning of the bank many expatriates went to different countries by spending around Tk 0.2 to 0.4 million. Most of them collected the amount either by selling their valuable lands or wealth.
The bank provides loans to the out-bound Bangladeshi workers subject to showing their appointment letters at a minimal interest rate.
The loan of the bank is collateral-free. The loan seekers must have a personal guarantor who may be his/her family member or a respectable person in their locality.
The condition is that the expatriates should send their remittances home through the bank. They will be able to pay their loans through installments.
Currently, about 10 million Bangladeshis are working in 143 countries across the world in various professions.
The authorised capital of the bank, a specialised one and the first-ever full-fledged expatriates' welfare bank in the globe is Tk 5.0 billion while its paid-up capital is Tk 1.0 billion.
The rest Tk 4.0 billion would be raised by offloading shares. The expatriate Bangladeshis will be the only shareholders of the bank.