New budget size to be around Tk 2,25,000 cr: Muhith

News - New budget size to be around Tk 2,25,000 cr: Muhith
 Finance Minister AMA Muhith on Tuesday indicated that the size of the next national budget would be about Tk 2,25,000 crore, around 18 percent of the GDP.

“This year I hope to give a budget of Tk 2,25,000 crore for FY 14 which would be around 18 percent of GDP,” he said while addressing the launching ceremony of NRB Bank Limited held at a city hotel in the evening.

Regarding the comments of many that there are too many banks in Bangladesh, Muhith said, “There’re not too many banks in the country.”

Mentioning that there is nothing to worry about the country’s banking sector, Muhith said, “The health of the country’s banking sector is very good… the health of the economy is sound and first class, never before it was so much good in Bangladesh.”

The Finance Minister also hoped that this bank would play an important role in the economy.

Bangladesh Bank Governor Dr Atiur Rahman spoke on the occasion as a special guest while acting British High Commissioner to Bangladesh Nicholas Low as a guest of honour. FBCCI president Kazi Akramuddin Ahmed, Bangladesh Association of Banks president Md Nazrul Islam Mazumder and NRB Bank chairman Iqbal Ahmed OBE also spoke at the function. NRB Bank managing director and CEO Mokhlesur Rahman delivered the address of welcome.

Speaking on the occasion, Bangladesh Bank Governor Dr Atiur Rahman said that he was looking forward to the newly opened NRB Bank Limited helping facilitate and accelerate this contribution of remittance inflow from NRBs and thus contributing substantially to this rising trend of per capita GNI.

“I’m also looking forward to the significant role of this bank in expanding and strengthening trade and investment ties of Bangladesh with the NRBs and their host communities in the UK and the USA,” he added.

Dr Atiur Rahman also expressed his optimism that the NRB Bank Limited with its modern new IT base to engage substantially in financing agriculture, SME and environmentally beneficial projects optimally utilising financial resources in helping promote inclusive broad based growth.

Later, Finance Minister AMA Muhith, Bangladesh Bank Governor Dr Atiur Rahman and NRB Bank Limited chairman Iqbal Ahmed formally made the official launching of the bank.

The NRB Bank Limited, bringing together a passionate and entrepreneurial group of NRB investors from all over the world, will serve as a conduit for investment to and from Bangladesh for Bangladeshi communities both domestically and internationally.

The NRB Bank Limited aims to be the leading dedicated financial institution for the NRBs to invest in Bangladesh and for Bangladeshi individuals and corporate to access international markets.

The goal of the bank is also to create customer loyalty, shareholder value and employee satisfaction.

Source: UNB Connect

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