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Expatriate Healthcare News: Bangladesh 'set to pass bank bill'

The Bangladesh parliament is set to pass legislation that will help expatriate health insurance policyholders financially.

Expats could benefit from the Expatriate Welfare Bank bill, which will help both unemployed Bangladeshis and non-resident citizens.

Finance minister Mr Muhith commented that the financial institution will provide loans for youths who cannot find jobs in the country, allowing them to relocate abroad for employment, while expatriate health insurance policyholders returning to Bangladesh will be offered loans to settle back in.

The proposed bank will also make it easier for expatriate Bangladeshis overseas to send remittances home.

Remittances worth more than $1.89 billion were sent home by expatriate Bangladeshis based in the UAE in the fiscal year ending June 2010, the Bangladesh Bank's data showed.

The amount was up 7.7 per cent on the previous year, which saw a total of $1.75 billion remitted by the same expat group.

Overall, more than seven million expatriates across the world sent home a total of $10.98 billion to Bangladesh in 2009-10, making the country the world's sixth-highest remittance recipient nation, Gulf News reported.

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