Dhaka (10 October 2017)
On 10 October 2017, Representatives of the World Bank Group and the Executive Chairman of Bangladesh Investment Development Authority (BIDA) met at a stakeholders’ consultation in connection with the Secured Transactions and Movable Collateral Registry Reform formulated jointly by the World Bank Group and the Bangladesh Bank, Central Bank of Bangladesh. Pursuant to the meeting the Executive Chairman of BIDA, Mr. Kazi M. Aminul Islam, stressed on the shortcomings of the existing relevant laws dealing with secured transactions of movable properties and the need to remove such shortcomings of the laws. Particularly, Mr. Kazi M. Aminul Islam urged Bangladesh Bank, Ministry of Commerce, Ministry of Finance, Ministry of Law, Justice and Parliamentary Affairs, Association of Bankers Bangladesh, Bangladesh Leasing and Finance Companies Association, and all other entities connected with financial transactions in Bangladesh to accord their full support to the Secured Transactions and Movable Collateral Registry Reform Program. Mr. Kazi M. Aminul Islam hoped that if the Secured Transactions and Movable Collateral Registry Reform Program is implemented and the proposed law is enacted then there will be a revolutionary transformation in the country’s financial investment and transactions, which will facilitate the country’s advancement in the Ease of Doing Business Index.
Md. Akbar Hossain
Public Relations Officer
Bangladesh Investment Development Authority (BIDA)