An association of Bangladeshi expatriates expressed their strong eagerness to buy the Oriental Bank with a plan for boosting the flow of remittances into the country. Chairman of International Expatriates Welfare Society (INEWS) and a sponsor director of Al-Arafah Bank Limited Mohammad Nawab Ali Bhuiyan told journalists at a press conference in the city on May 20 that the society, the only registered organisation of the NRBs, had already submitted proposal for buying the Oriental Bank to the chief adviser, finance adviser, Bangladesh Bank governor and administrator of Oriental Bank.

They are also ready to fulfil all the formalities to be imposed by the authorities like paying up the sponsor share amount of Taka 2.0 billion within six months of the decision. So far the INEWS has decided to take 35 directors from the expatriates who will work as the sponsor shareholders of the bank, Bhuiyan informed the newsmen adding the bank will work depending only on the deposits of the expatriates. It would facilitate the Non-Resident Bangladeshis (NRBs) to send their money in legal ways in turn that will increase the remittance from the expatriates.

The bank could also extend loan facilities that would enable the people going to foreign countries to reach their job places without selling properties. “Expatriates will send more remittances through this bank instead of using illegal hundi channels if they (expats) get the ownership,” Bhuiyan told the press conference. At the news meet titled ‘Expatriates Want to Get the Oriental Bank’ it was disclosed that the present caretaker government envisages sell-off of the bank and some foreign buyers have contacted the authorities.

The expatriates’ society urged the caretaker government to offer them the Oriental Bank for the greatest welfare of country’s some eight million expatriates who largely take part in economic development.