Bangladesh Bank asks banks to allow residents of former enclaves to open account with Tk 10

The central bank has asked the scheduled banks to let the residents of former enclaves open accounts with only Tk 10.

The Bangladesh Bank has also ordered them to give loans from its refinancing fund and provide agricultural credits to the residents of the enclaves, which became part of Bangladesh on Aug 1.
 
Bangladesh Bank’s Agricultural Credit and Financial Inclusion Department issued separate orders on Monday.
 
In the order pertaining to the bank accounts, the central bank said the banks cannot charge any fee for these accounts.
 
It also asked for updates on ‘Previously Enclave Dwellers Account’ every three months.
 

In the other circular, the Bangladesh Bank says residents of the erstwhile enclaves have been included along with small, marginal, and landless farmers, low-income professional affected by natural disaster, and marginal or small businessmen with the Tk 10 accounts for the entitlement of central bank’s refinancing fund.

It said the order to disburse agricultural loans among these people was in line with agriculture and rural credit policy and aimed at overall development, ensuring proper use of land, their rights like other citizens and expansion of agriculture in these areas.

In a circular on Sunday, the central bank asked the banks to prioritise Corporate Social Responsibility programmes for the development of these areas.

A total of 111 enclaves were included in Bangladesh’s map while India got 51 in the exchange.