Probashi Kallyan Bank: Innovative approaches for Remittance Transfer, Migration Finance Loan and Investment Loans

Short-term labour migration has come to be a mainstay of Bangladesh economy. But high cost in remittance transfer, lack of affordable migration loan and limited investment opportunities for returnee migrants are reducing the gains from labour migration. High migration cost often undermines gains from migration. In 2012 the government of Bangladesh established Probashi Kallyan Bank as a specialized financial institution for migrants to facilitate remittance transfer, provide migration loan and expand investment opportunities. RMMRU has extended its experience and expertise in labour migration to the Probashi Kallyan Ban (PKB) so that the latter can achieve its goals in the three of the above operational areas. This policy Brief analyses main problems in each area, discuss policy options and presents policy recommendations.