DHAKA: The government has finalized the decision in principle to establish Palli Sanchay Bank for the rural poor.

The decision has taken in a meeting at Finance Ministry on Thursday with finance minister Abul Maal Abdul Muhith in the chair.

The minister made the disclosure while talking to journalists after the meeting.

He said that the draft act would be placed in cabinet meeting soon. And then will be tabled in the parliament.

The new bank will emerge from the government’s “One House, One Farm” project.

The proposed bank will run its operations in 485 upazilas across the country. There will be 17 persons in the board of directors including government officials as well. The capital of the bank is around TK 600 crore.

The government will hold 50 percent of the bank’s ownership and the remaining 50 percent would go to the member cooperative societies of the “One House One Farm” project.

The government, however, will not take any dividends against its shares.

BDST: 1422 HRS, NOV 07, 2013
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