A bill titled "The Palli Sanchay Bank Bill 2014" to set up a specialised bank for giving facility of savings and transactions of the earnings of the rural, poor and under privileged people was passed in parliament.
Finance Minister A M A Muhith on Wednesday moved the bill in the House, which was passed with voice votes. He introduced the bill in the House on March 2014, reported BSS.
After passing the bill, the new bank will be set up to give the activities of the government's "One House, One Farm" project an institutional shape along with facilitating savings and transactions of the money to be earned by the poor and under privileged people living in rural areas.
The specialised bank will play an important role for poverty eradication in the rural areas as the law will encourage the poor people to save, help them create village organisations for socio-economic development and ensure women empowerment with their capacity building.
Earlier, the Chairman of the Parliamentary Standing Committee on Finance Ministry, M Abdur Razzaque proposed "The Palli Sanchay Bank Bill 2014" in an amended form and with recommendations.
According to the bill, the proposed bank will also be established as soon as possible through a gazette notification keeping provision of its head office, regional office, shareholders, registered shareholders samity list.
It has paid up share capital of the bank with Tk200 crore while the authorised capital will be Tk1,000 crore. Of the total capital, the government will pay 51 percent while rest of the 49 percent will come from the cooperative societies of the "One House, One Farm" project.
The bank's board of directors will consist of 10 members along with its chairman.
