AIIb bill placed in parliament

bdAsia Infrastructure Investment Bank Bill 2016 was placed in the Jatiya Sangsad on Tuesday to pave the way for Bangladesh to join the (Asian Infrastructure Investment Bank) as a founding member AIIb.

Finance Minister Abul Maal Abdul Muhith introduced the bill in the House, saying the AIIb aims to ensure sustainable development in Asia and meet the challenges of development by increasing regional cooperation and collaboration between organizations bilateral and multilateral development.

Muhith said the possibility of joining the AIIb has authorized $ 100billion by member countries of the World Bank and the Asian Development Bank Capital opens.

Finance Minister said Bangladesh signed a memorandum of understanding (MoU) on 24 October 2014 and the Articles of Agreement (AA) on 25 December to join this bank. He said Bangladesh has approved 6605 bank shares and each share is worth $ 100,000.

China took steps to establish the AIIb with 57 founding members. Earlier, the Cabinet approved the bill on 29 December 2015. Subsequently, the bill went to the committee concerned for consideration and report to the House within seven days, according to BSS. -Mithun