GBCSRD Circular No. 05: Opening of Bank Accounts for Ready Made Garments Workers

GBCSRD Circular No. 05 Green Banking and CSR Department Bangladesh Bank Head Office Dhaka GBCSRD Circular No.-05 Date: September 17, 2013 Ashwin 02, 1420

Managing Director / Chief Executive All Scheduled Banks Operating in Bangladesh

Dear Sir,

Context regarding the opening of bank accounts for workers in the Ready-Made Garments industry.

Workers in the Ready-Made Garments industry may open bank accounts in their own names by depositing 100 (one hundred) Taka against their National ID and the ID card issued by their employing establishment, for the purpose of paying salaries and allowances through bank accounts. There is no obligation to maintain a minimum balance in these bank accounts, and no charges/fees shall be collected. In cases where there is a shortage of cheque books, transactions in these accounts may also be conducted through vouchers.

You are advised to take necessary measures to ensure the payment of salaries and allowances of workers in the Ready-Made Garments industry through bank accounts and to provide banking services for them.

In this regard, you are advised to submit the information in the attached table format to this department within 15 days following each quarter. You are advised to send the first report based on December 31, 2013, by January 15, 2014.

These instructions will be implemented immediately.

Kindly acknowledge receipt.

Yours faithfully,

(Chandkar Morshed Milsnat) Deputy General Manager Phone: 9530292 Fax: 9530327

Enclosure: As above

Enclosure

Quarterly Progress Report on Bank Accounts of Workers in the Ready-Made Garments Industry

March/June/September/December 30/31, 20--

Account Number | Total Capitalized Balance (in Lakh Taka)