Dhaka, Bangladesh (BBN) – The central bank of Bangladesh has asked all commercial banks to open collection accounts on behalf of the government to receive donation for implementation of the Padma Bridge project, officials said.
Two accounts – one for local currency and another for foreign – will be opened with the state-owned Sonali Bank Local Office to receive the money deposited with the banks.
The Bangladesh Bank (BB), the country’s central bank, issued a circular in this connection on Wednesday and asked the chief executives and managing directors of all commercial banks to open the accounts properly.
“The banks will open collection accounts at all their branches on behalf of the government and will maintain those until further notice,” the BB said in the circular.
Talking to BBN, a BB senior official said the central bank has issued the circular in line with the advice of the Ministry of Finance.
The scheduled banks will provide such services without any charges, he said, adding that anyone can give their donation to the accounts, opened at any bank branches.
One of the accounts 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 overseas and authorised dealer (AD) branches of all banks for receiving grants from the non-resident Bangladeshis (NRBs).
The circular also said any expatriate can send their grant through any bank abroad or AD branch of any Bangladeshi bank through exchange houses.
“All banks will have to submit monthly financial statement on donation to the central bank and forward a copy to the executive director of the Bangladesh Bridge Authority to ensure proper monitoring of the fund,” the central banker noted.
“The deposited money would not be allowed to be spent on other purposes, and the Bridge Division will inform the Prime Minister’s Office, the Finance Division and the Planning Commission about the status of the accounts and collected money after every three months,” the finance ministry said in a notification earlier.
If any amount of the collected fund remains unutilised after the implementation of the project, it (the amount) will be spent on other infrastructure development work or to be deposited with the Consolidated Fund, it added.
BBN/SSR/AD-09Aug12-11:05 am (BST)
