Govt considering raising collateral-free migration loan limit to Tk5 lakh
Workers can obtain loans of up to Tk3 lakh at a simple interest rate of 8% with only one guarantor
The government is considering increasing the ceiling of collateral-free migration loans for overseas-bound workers to Tk5 lakh from the current Tk3 lakh, State Minister for Expatriates' Welfare and Overseas Employment Md Nurul Haque told parliament today (8 June).
He disclosed the information while responding to a question from Mymensingh-6 lawmaker Md Kamrul Hasan in the Jatiya Sangsad.
The lawmaker wanted to know whether the government had any plans to provide interest-free bank loans to young people seeking employment abroad, given the high costs associated with overseas migration.
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The question was directed to Expatriates' Welfare and Overseas Employment Minister Ariful Haque Chowdhury. However, in his absence, the state minister responded on his behalf.
Nurul Haque said Probashi Kallyan Bank currently provides collateral-free migration loans to overseas-bound workers on easy terms.
He said workers can obtain loans of up to Tk3 lakh at a simple interest rate of 8% with only one guarantor. "However, the present government is considering increasing the loan ceiling to Tk5 lakh," he added.
The state minister also said there is currently no scheme to provide interest-free bank loans to young people planning to work abroad.
"If the government takes any initiative to provide interest-free bank loans, the bank will take the necessary steps accordingly," he said.
