Finance Minister Abul Hassan Mahmood Ali on Sunday reiterated that the recently passed offshore banking law will boost the flow of foreign currency in the country.

He said this while speaking as the chief guest at the second session of the seminar on ‘Unpacking the Economic Manifesto of the Awami League: Trends and Challenges for Tomorrow Bangladesh’ organized by the Bangladesh Institute of Development Research (BIDS), the government think-tank, held at its auditorium in Agargaon in the capital.

He said the foreign depositors and investors have already started responding in Bangladeshi banks after the offshore banking law was passed.
Depositors said that they are pleased with the new offshore banking law in Bangladesh, according to Mahmood Ali. Savings from abroad will rise soon, increasing the flow of foreign currency into the country, the finance minister pointed out.

Planning Minister Major General Abdus Salam, (retd), MP was the chief guest in the morning session of the seminar.

Dr Mashiur Rahman, Economic Affairs Adviser to the Prime Minister, Dr Tawfiq-e-Elahi Chowdhury, BB, Power, Energy and MR Affairs Adviser were present as the special guests.
Dr Binayak Sen, Director General of BIDS, moderated the event.

Several research papers were present in the seminar on socio-economic development of Bangladesh including macroeconomic stability.