PM’s economic advisor discusses labor bank formation procedures in Bangladesh

ShareSansar, September 19:

Prime Minister Sushil Koirala’s chief economic Advisor Dr Chiranjibi Nepal has met Bangladeshi met Expatriates' Welfare Minister Engineer Khandker Mosharrof Hossain last Monday, and discussed about the Probashi Kallyan Bank (Expatriates’ Welfare Bank) and its formation procedures.

Praising the actions taken by the government of Bangladesh for the welfare of expatriate workers, Dr Nepal has said that the Nepal Government has also a desire to establish an Expatriate welfare bank like its South Asian neighbour Bangladesh.  

The government is planning to establish a separate financial institution to provide easy banking services to migrant workers and their dependent families.

The government had announced to open a separate financial institution for migrant workers in the common minimum program as well as the budget announcement.

According to the government’s plan, the paid-up capital of the bank will be Rs 5 arba with the government having 50 percent stake in the bank and the rest will be held by other agencies including the Migrant Workers' Welfare Fund (MWWF).