BANGLADESH NEWS
Bangladesh Bank has asked all banks to open two accounts -- one for local and another for foreign currency -- for receiving contributions to the fund for Padma bridge project.
A central bank circular said an account will be opened with all branches of the banks for receiving local currency while another with all foreign and authorised dealer branches for receiving foreign currency.
“The banks will open collection accounts at all their branches on behalf of the government and will maintain that till further notice,” the circular added.
Bangladesh Bank issued the circular on Wednesday to all banks directing those to open accounts in light of a directive of the finance ministry.
After the World Bank cancelled its financing commitment for the Padma Bridge project on June 29, the cabinet in its meeting last month decided to open the accounts to receive people’s grant with the aim of constructing the bridge with own resources.
The BB circular said all banks will deposit the money collected every month in the two accounts with Sonali Bank's local office.
Two accounts –one for local and another for foreign currency- will be opened in the Sonali Bank local office for receiving deposited money from the banks.
The central bank circular said Sonali Bank will regularly transfer the money deposited with two government accounts with Bangladesh Bank.
According to the BB circular, one of the accounts opened with the banks will be titled “Voluntary donation (residents) for construction of the Padma Bridge” where local currency will be deposited.
Another account will be a foreign currency account in the same title in the foreign and authorised dealer branches of all banks for receiving grants from the non-resident Bangladeshis (NRBs).
The central bank circular said any expatriate can send their grant through any bank abroad or authorised dealer branch of any Bangladeshi bank through exchange house run there.
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