The Cabinet on Thursday approved the draft of the Grameen Bank Bill 2013 that will replace the Gremeen Bank Ordinance 1983 with a view to bring the microcredit institution under the strong watch of the central bank.
The approval came from the 220th meeting of the Cabinet held at the Bangladesh Secretariat with Prime Minister Sheikh Hasina in the chair.
Briefing reporters after the meting, Cabinet Division secretary M Musharraf Hossain Bhuiyan informed that the Cabinet approved the draft of the proposed Grameen Bank Bill 2013 as vetted by the Law Ministry.
He said that earlier there was no specific tenure for the Grameen Bank’s board of director, but the proposed bill provides for three-year tenure for the board.
The cabinet secretary said the Grameen Bank was established as per the Grameen Bank Ordinance of 1983. “Now some changes have been brought in the proposed bill to upgrade it.”
He said the authorised capital of the bank was TK 350 crore earlier and now it will be increased to Tk 1000 crore while the bank’s paid-up capital to be increased to Tk 300 crore from Tk 50 crore.
As per the other banks, he said Grameen Bank has to submit its annual report to the Bangladesh Bank.
Musharraf Hossain said the day’s Cabinet meeting also approved the drafts of the proposed “Geographical Indication Products Bill 2013’; ‘Vitamin A Enriched Edible Oil Bill 2013’; ‘Jessore University of Science and Technology (Amendment) Bill 2013’; ‘Trading Corporation of Bangladesh Order (Amendment) Bill 2013’; ‘Legal Aid (Amendment) Bill 2013’; and ‘Brick Manufacturing Control Act 2013’.
He informed that the TCB will be strengthened with the enactment of the Trading Corporation of Bangladesh Order Amendment Bill 2013 which provides for a five-member TCB board in place of the existing two-member board.
The cabinet secretary said the draft of two proposed bills — Cloth and Garment Industry Board Bill 2013 and Bangladesh Higher Education Commission Bill 2013 — were placed before the Cabinet today (Thursday). The bills have been sent back to the respective ministries for further scrutiny.
He said the Cabinet meeting also finalised the list of public holidays for 2014 incorporating 22 days of holiday, including 14 general holidays.
Musharraf Hossain said the Cabinet decided to award trophies and certificates in 32 sectors among the businessmen for excellence in export of goods and services.
The meeting also congratulated Prime Minister Sheikh Hasina for receiving the South-South Award.
On September 20, Sheikh Hasina received the South-South Award in New York for her outstanding contribution to improving the state of women and children in Bangladesh.
Source: UNB Connect
