Probashi Kallyan Bank to become scheduled in June

The Probashi Kallyan Bank will start its journey as a full-fledged scheduled bank hopefully from June this year. Wage Earners Welfare Board (WEWB) has given Tk50 crore to turn the Probashi Kallayan Bank (PKB) into a scheduled one. The cheque for Tk50 crore was handed over to PKB Managing Director ANM Masrurul Huda Siraji by Expatriates Welfare Minister Nurul Islam at his ministry on Sunday. Probashi Kallyan Bank was established in 2012 with a capital of 100 crore to provide loan to would-be migrants. WEWB provided Tk95 core of the fund and finance division of the government provided the remaining Tk5cr. A scheduled bank requires a minimum capital of Tk400cr. The rest of the amount (Tk250cr) will be given by the finance division early next month which has already been approved by the finance division of the government last week, Masrurul Huda said. He also said: "We will apply to Bangladesh Bank after getting the capital amount next month. As the expatriates welfare minister has already talked with the prime minister, we are hopeful to run as a scheduled bank from June." “All the other requirements including Bangladesh Bank’s approval have already been fulfilled,” said the managing director of PKB.