The government has handed over afresh of Tk 100 crore from the Wage Earners Welfare Board as loan to transform Probashi Kalyan Bank into a scheduled bank.
Expatriates Welfare and Overseas Employment Minister Nurul Islam on Tuesday handed over the cheque to the PKB managing director Mahatab Zabin at the ministry conference room, said officials.
Speaking at the function, Nurul Islam said that the PKB was going to be commercial bank very soon and migrant workers would be able to send their remittances through this bank at lower cost.
He hoped that once PKB starts receiving remittances, the foreign currency reserve will significantly increase.
EWOE ministry’s secretary Nomita Halder, WEWB director general Gazi Mohammad Julhas, Bureau of Manpower, Employment and Training director general Salim Rezs and senior officials were present on this occasion.
With new Tk 100 crore, the PKB got total Tk 245 crore from the Wage Earners’ Welfare Fund created with contributions from the migrant workers.
As per decision of the government, the welfare board would have to provide Tk 380 cr which is 95 per cent of the paid up capital of bank.
Rest five per cent of money will be allocated from the finance ministry to make PKB as commercial bank.