In response to a proposal of the LGRD Ministry for the immediate implementation of Polli Sanchoy Bank, Finance Minister Abul Maal Abdul Muhith said on Thursday that his ministry had given its consent for executing the proposal.
He said: “We have given our consent in this regard and it will be placed before the cabinet for approval in principal by November 18.”
The minister made the disclosure while talking to journalists after holding a meeting at his office at around 1:50pm.
Muhith said: “The Polli Sanchoy Bank will increase the incentive of rural people to save their money as well as it will attract more investment.”
Earlier on July 30, Prime Minister Sheikh Hasina gave her direction to establish a new specialised bank named Polli Sanchoy Bank to avoid the misuse of deposits made by poor rural people.
The ministry of finance took the decision to establish the specialised Polli Sanchoy Bank on the same day it decided to prepare a draft of the Polli Sanchoy Bank Act 2013 in a meeting on August 1.
The press release said the number of beneficiaries of the project is now Tk1.038m and their deposits have already exceeded Tk1.3bn.
Ekti Bari Ekti Khamar (One House One Farm) was launched by the Rural Development and Cooperative Division under the Ministry of LGRD with a target of positively changing the lives of rural people.