Probashi Kallyan Bank officially started operation on April 20, 2011. It is a specialized bank for benefit and welfare of the wage earners. This Bank provides “Migration Loan” to Bangladeshi people who are interested to go abroad with valid work visa.
The operational activities of this bank can be divided in following steps.
1. Assistance to out bound workers under Migration loan.
2. Rehabilitation of the retrenched workers under rehabilitation loan.
3. Repatriation of remittance earned by wage earners.
Main Terms and Conditions of “Migration Loan” are mentioned below:
-An undertaking by the applicant to be submitted on 150 taka non-judicial stamp promising that he/she will route all wages/income into Bangladesh through this bank or its nominated representatives.
-Personal guarantee/undertaking of socially reputed citizen.
-The loan must be covered by an insurance policy covering death or loss of limbs risk.
-The entire loan amount will be disbursed through payment order to different entities.
-The borrower must execute an undertaking empowering the bank to adjust his/her loan from his monthly remittance to Bangladesh within the period as decided by the bank and customer depending on the nature and tenure of his/her job overseas.
The loan seekers who cannot provide any security or personal guarantee, this is the condition for them to get migration loan:
“”Applicants, who are unable to provide any security or personal guarantee, will have to execute a quadruplicate/multiparty agreement involving bank, borrower, and BOESL (Bangladesh Overseas Employment Service Ltd.)/Overseas employer (where possible). “”
|Address||71-72 Old Elephant Road, Eskaton, Dhaka-1000|
|Category||Business & Finance >> Bank|