DHAKA, DEC 26: Chowdhury Mohammad Kayes Sami, former managing director of The Oriental Bank Limited, has been appointed as managing director (MD) of the newly founded bank Expatriate Welfare Bank (Probashi Kallayan Bank) on contract basis for two years.
The establishment ministry issued a circular in this regard on Sunday. Sources in the expatriate ministry said that the newly appointed managing director of the bank will join within couple of days and kickstart its work by January next year. Headquarters and regional office of the specialised bank has already set up in the Eskaton area in the city.
The bank was established recently aimed at promoting by manpower exports and provide services to non-resident Bangladeshis. A cabinet meeting on July 5 gave final approval for the Expatriate Welfare Bank Act 2010 with an aim to provide collateral free loans to the people intending to go abroad for employment.
Dr Zafar Ahmed Khan, secretary of the ministry of expatriates’ welfare and overseas employment, earlier, told
The Independent that they are planning to sign agreements with remittance transfer companies like the ‘Western Money Union’ soon as the migrant workers will be able to send their hard-earned money to their families safely and easily through the bank.
“None will have to sell his land and properties to go abroad for job. The new bank will provide loans for their safe migration,” he said.
“The bank will be established with full expatriate equity and management.
Dr Zafar Ahmed Khan said that the Expatriate Welfare Bank would be a fully commercial scheduled bank in future.

Source: The Independent