The Bank Deposit Insurance Bill (Amendment) 2023 was placed in Parliament on Sunday, aiming to double the amount of compensation of depositors. Finance Minister AHM Mustafa Kamal placed the Bill and it was sent to the respective scrutiny committee for further examination. The committee was asked to submit its report within one month. Also Read: No case for harassment to ensure fair, neutral polls: Law Minister tells JS As per the current law, a depositor gets the highest Tk 1 lakh as compensation within 90 days if any scheduled bank or financial institution goes into liquidation. The amended law proposed to increase this compensation from Tk 1 lakh to Tk 2 lakh. In Bangladesh, deposit insurance was introduced in August, 1984, while the amount of insurance coverage was Tk 60,000 which was later extended to Tk 1 lakh. Only banks were mentioned in the previous act, while in the proposed law, financial institutions have been newly included extending the limit for depositors of financial organisations. Besides, the Deposit Insurance Trust Fund (DITF) of Bangladesh Bank, a specific fund for depreciated depositors will be named as the “Deposit Safety Trust Fund.” Also Read: Bill placed in JS to allow maximum 3 members of a family in bank boards  The following type of money shall be deposited to the fund - (a) money received from insured banks as well as financial institutions; (b) income received from the bank wound up under section 7; (c) money received from the investment of money from the fund; and (d) money received from other sources. According to proposed Bill, the fund shall not be spent out except for payment of debt to the depositor creditor of the bank wound up. The proposed act suggested that the Bangladesh Bank can primarily restrict receiving deposits by the banks and financial organisations if they fail to pay insurance premium for consecutive two times. Moreover, the central bank will have the authority to shut or liquidate them if the same incident is repeated for the third time. Also Read: WB had brought false allegations against Bangladesh govt, PM tells JS After the order of liquidation of banks and financial organisations, the Bangladesh Bank will have to pay insurance money or Tk 2 lakh highest to the depositors from the Deposit Safety Trust Fund. Each depositor will get the same amount of repayment even if they had several accounts with the banks or financial organisations, the draft act stated. Deposit Insurance Systems is an institutional initiative to protect depositors against the loss of their deposits. All scheduled banks or commercial banks including the branches of foreign banks functioning in Bangladesh are insured by the Deposit Insurance Systems.    

Climate talks appeared stalled late night Thursday on major issues going into the final day, but possibilities for a deal were buoyed by an unexpected proposal by the European Union on two of the thorniest issues, tying compensation for climate disasters to tougher emissions cuts. Minutes after the United Nations summit's chairman warned delegates that “we are not where we need to be in order to close this conference with tangible and robust outcomes," the EU's top climate official made a surprise offer. To applause, he proposed a two-pronged approach that would create a pot of money for poor countries and push for steeper cuts of heat-trapping emissions by all countries, as well as the phasing down of all fossil fuels, including natural gas and oil. The issues of compensation and pollution-cutting “are two sides of the same coin as far as the European Union is concerned," said European Union Executive Vice President Frans Timmermans, making clear that the 27-nation bloc won't offer more money unless there are concessions on emissions targets. “If we do not perform enough on mitigation, there is no money on Earth enough to address the consequences of the climate crisis," Timmermans told The Associated Press. “The amounts of losses and damages will be such that we could never repair them.” “So we absolutely need high ambition on mitigation if we want to have a fighting chance also to help the most vulnerable and face these challenges,” he added. Vulnerable nations called for a deal to be sealed before the end of the talks. "This is a historic opportunity that can’t be lost and that must be seized now," Maldives Environment Minister Aminath Shauna said. Poorer countries that bear the brunt of climate change, from rising sea levels to extreme flooding, stepped up the urgency, accusing richer polluters of stalling and said they cannot wait another year for the creation of a fund to pay for damages. Before Timmermans sprung the two-page proposal, special teams of ministers said they made progress on major issues, including loss and damage. But the mood was somewhat grim. Read more: COP27: Bangladesh urges developed countries to double climate financing by 2025 United Nations climate chief Simon Stiell urged negotiators to get cracking. “There is an outcome where we all come out of this having done our jobs and with something that protects our planet,” Stiell said. “Let’s do that." Then Timmermans came out with his proposals and negotiators, including U.S. Special Envoy John Kerry, dashed about trying to figure out what to do next. Problems quickly popped up. China, which had been quiet during much of the talks, insisted that the 2015 Paris Agreement should not be changed and money for the new fund should come from developed countries, not them. Saudi Arabia also said it was important “to not go beyond what we have” in the Paris pact and was reluctant to pony up to a compensation fund. Asked to comment on the EU proposal, Kerry said he hadn't had a chance to read it yet. “We’ll take a look at it,” he told The AP. "You know, we’ll see.” Egypt's leadership of the summit, called COP27, came under criticism earlier Thursday presenting what some negotiators described as a 20-page “laundry list” of wide-reaching ideas. “It is evidently clear that at this late stage of the COP27 process, there are still a number of issues where progress remains lacking,” Egyptian Foreign Minister Sameh Shoukry, the president of the summit, said late Thursday. U.N. Secretary General Antonio Guterres, who had flown in for the final stage of negotiations, warned of a “breakdown in trust between North and South, and between developed and emerging economies.” “The world is watching and has a simple message: stand and deliver,” he told leaders, adding that there was “no time for finger pointing.” Negotiators were surprised by several ideas in the Egyptian draft that they said were never discussed at the two-week talks. Among them was a call for developed countries to achieve “net-negative carbon emissions by 2030” — a far tougher target than any major nation has so far committed to and which would be very hard to achieve. The EU and U.S., for example, have said they aim to reach net zero emissions by 2050, China by 2060. The head of the European Parliament Bas Eirkhout said it was "too broad, too many topics, too vague language and too many items, which I don’t think have to be in a cover decision.” The conference is supposed to end Friday, but past gatherings have been extended to reach a deal. Longtime negotiations analyst Alden Meyer of E3G said that unlike in previous years, the president of the conference delayed putting together special teams of ministers to push through solutions on big issues, except loss and damage, and that’s putting everything behind. Read more: Adapting to climate change is the main focus of COP27: Info Minister There were at least half a dozen instances where nations were “taking negotiations hostage” by taking hardline, seemingly inflexible stances, Meyer said. The biggest was on the compensation fund for climate disasters, known as “loss and damage” in negotiators’ parlance. The United States has resisted any fund that would suggest liability and compensation — let alone reparations — for decades of greenhouse gas emissions by industrialized nations. European countries have backed calls by island nations for a “mosaic” of financial arrangements drawing on public and private sources of money. But there are big differences over who should pay. German officials said the money should not come only from the industrialized nations, but also major emerging economies whose greenhouse gas emissions have increased sharply in recent decades. Heavy polluters China and India, however, argue they should not have to contribute because they are still officially considered developing nations. The issue of loss and damage is one of three financial aid pots discussed. Rich nations agreed in past conferences to spend $100 billion a year to help poorer countries develop cleaner energy systems and adapt to prevent future disasters — though they have lagged in giving the funds. One longtime participant in the climate talks, Yamide Dagnet of the Open Society Foundation, said developed countries were showing more openness on “loss and damage.” “But fear of compensation and liability remains a Damocles sword that needs to be overcome,” said Dagnet, a former EU negotiator at the talks. “The United States is probably the most nervous about how much it can give in on loss and damage after decades of delaying tactics, backed by other developed countries,” she said. Timmermans, the EU climate chief, expressed cautious hope that an agreement might be achieved yet in Egypt. “I am by nature an optimistic person, but I’m also realist," he told The AP. "I think it is possible, but I grant you, it’s not going to be easy.” His comments were echoed by Chilean Environment Minister Maisa Rojas. “I think we’re making progress. We heard a lot of goodwill in particular on the financing for loss and damage,” she told The AP. The EU offer on climate financing “looks promising. So, I think there will be good advances.”

No decision has been made yet over getting compensation for climate vulnerable countries, said Environment, Forest and Climate Change Minister Shahab Uddin. “No decision has been made yet regarding the compensation to the vulnerable countries including Bangladesh, though Bangladesh and other countries are still hopeful that a decision about financial assistance from the developing countries will come,” he told UNB. COP27 is taking place in Egypt from 6-18 November where Bangladesh is playing a crucial role as one of the top actors on behalf of the vulnerable countries that are desperate to get funds to tackle the impacts of climate change. Due to climate change, natural disasters are occurring frequently around the globe. Owing to the impact of it, people not only experience the infrastructural damage, but also lose everything including income sources and crops, he said. Because of increasing salinity, access to safe water is becoming difficult in coastal areas. As a result, people have to collect water from remote places, wasting working hours, he added. Besides, the fishermen failed to catch fish during a certain period of time due to frequent depression in the Bay, forcing them to change their profession, said the minister. Meanwhile, people are becoming homeless due to the riverbank erosion while people who depend on forests lose their work due to the heat wave, he said. Replying to a question, the minister said “Loss and damage financing is on the agenda for discussion at the COP conference, and Bangladesh and other countries have welcomed the initiative. How the financing will be made, will be fixed through a framework, and it will take time.” Ziaul Haque, a member of the Bangladesh team, said that they are seeking a green climate fund or adaptation fund under the loss and damage formula, but the rich countries are not interested in it. Also read: Adapting to climate change is the main focus of COP27: Info Minister “They give money, but they do not give that as compensation…we just want funds,” he said. Md Shamsuddoha, a climate expert observing the climate conference, told UNB that it should be fixed what is loss and damage before financing. “Damaging infrastructure during natural disasters is not a loss and damage, but the impact that natural disasters have on the livelihood of the local community would come under loss and damage by which people are directly affected.” Syeda Rizwana Hasan, chief executive of Bangladesh Environmental Lawyers Association (Bela), said that the developing countries had promised to provide $100 billion as green fund, but they are now showing the Russia-Ukraine war as an excuse. “It’s not right. As a vulnerable country, the more we wait to get compensation, the more our losses will increase. We should take measures for quick preparations to overcome the damages.”  

The High Court on Tuesday issued a rule asking the authorities concerned why adequate compensation should not be given to Md Jalal alias Joj Mia who was wrongfully tried in August 21 grenade attack case and spent five years in jail without committing any crime. The court also questioned why his wrongful arrest, arrest warrant and imprisonment will not be declared illegal. The HC bench of Justice Mozibur Rahman Mia and Justice Kazi Ejarul Haque Akondo issued the rule during a hearing on a writ petition filed seeking Tk 10 crore as compensation for Joj Mia. Barrister Humayun Kabir Pallab appeared for the petitioner while Deputy Attorney General Arobinda Kumar Roy represented the state during the hearing. On September 12, Supreme Court (SC) lawyer Humayun Kabir Pallab filed the writ petition with the High Court. The petition also sought formation of a committee headed by a retired judge of the Appellate Division to identify those who had tried Joj Mia in a false case. Home Secretary, Deputy Commissioner (DC) of Dhaka district, Officer In-charge (OC) of Motijheel Police Station, OC of Senbag Police Station of Noakhali, Criminal Investigation Department (CID) of Police, ex-Inspector General of Police (IGP) Khuda Baksh Chowdhury, ex-Assistant Superintendent of Police (ASP) Abdur Rashid, ex-ASP Munshi Atiqur Rahman and ex-Superintendent of Police (SP) Md Ruhul Amin have been made respondents to the writ. The petition said that Joj Mia can be compensated by confiscating the wealth of those responsible for the August 21 grenade attack, including then Home Minister Lutfozzaman Babar, ex-IGP Khuda Baksh Chowdhury, ex-ASP Abdur Rashid, Munshi Atiqur Rahman and ex SP Md Ruhul Amin. On August 11, a legal notice was served against 11 people asking for compensating Joj Mia. The notice had asked the respondents to take steps in this regard within 15 days of receiving the notice. At least 24 leaders and activists of the Awami League (AL) were killed and many injured in a grenade attack that was launched at an AL rally at the capital’s Bangabandhu Avenue on August 21, 2004. On June 9, 2005, Joj Mia was detained from as a suspect from Noakhali’s Senbag upazila and taken into a 17-day police remand. During the remand period, CID collected a false confession from Joj Mia, in which he said that he had taken part in the grenade attack in exchange of Tk 5000 following the orders of his big brothers. In 2007, an interim government decided to reinvestigate the Joj Mia case. On June 11, 2008, CID completed the fresh investigation and produced the charge sheet of the case, in which Joj Mia was proven not guilty.

The High Court (HC) on Wednesday issued a rule questioning the authorities concerned why directive should not be given to pay  compensation of Tk 5 to the five deceased who were crushed to death after a girder of the BRT project in Uttara fell on their private car. The HC bench of Justice Farah Mahbub and Justice Ahmed Sohail passed the order after hearing a writ petition filed by Supreme Court lawyer Zakaria Khan. Home Secretary, Roads and Highways Secretary, Inspector General of Police (IGP), Bangladesh Bridge Authority, Roads and Highways Chief Engineer and Dhaka Bus Rapid Transit (BRT) Company were made respondents to the rule. The HC also wanted to know what steps have been taken by the BRT authorities in the last five years for the safety of people while carrying out development work. The court asked it to submit report in this regard within the next 60 days. Read: Dhaka BRT girder tragedy: Preliminary probe report submitted On Tuesday, Supreme Court lawyer Shagufta Tabassum Ahmed filed a writ petition with the High Court seeking its directive to the authorities concerned to inform about their steps taken after the girder accident. The writ petition sought instructions to ensure necessary safety measures in the movement of people preventing the recurrence of such incidents. The HC bench of Justice Md Mozibur Rahman Miah and Justice Kazi Md Ejarul Haque Akondo dropped from its cause list the writ petition today (Wednesday). Advocate Syeda Nasrin filed another writ petition on behalf of Ain o Salish Kendra (ASK) and legal services organisation Bangladesh Legal Aid and Services Trust (BLAST) seeking HC directive on compensation which will be heard on Thursday. On Monday, the five, including two children, died after one girder of the BRT project fell on their private car while it was being moved in front of Gazipur Paradise Tower. A newlywed couple also travelling in the same car, fortunately escaped death. The deceased were identified as Rubel, 50, Fahima, 40, her sister Jhorna, 28, and Jhorna's two children Jannat, 6, and Jakaria, 2, said Yeasin Gazi, inspector of Uttara west police station. Rubel's son Hridoy, 26, and his wife Ria Moni, 21, escaped with serious injuries and were rushed to a local hospital.

A legal notice  has been served to 11 people seeking Tk 10 crore compensation for Joj Mia who served four years jail term  without committing any crime in August 21 grenade attack case. Supreme Court lawyers Mohammad Humayun Kabir and Mohammad Kausar sent the notice on behalf of Joj Mia on Thursday through registered post saying it has violated his fundamental rights. Then home affairs state minister Lutfozzaman Babar, then home affairs secretary, then IGP Md Khoda Baksh Chowdhury, former Assistant Superintendent of Police and investigation officer of the case Abdur Rashid, Munshi Atiqur Rahman, former special superintendent of police Md Ruhul Amin, were among the recipients of the notice, they said. Also read: AL pays homage to August 21 martyrs The notice also sought formation of an investigation committee to identify the involvement of government officials in illegally jailing Joj Mia. It asked to collect the compensation money from the officials concerned if they found guilty. The notice has asked to respond after taking steps in this regard within 15 days of receiving the notice. The two SC lawyers said they will move to High Court with a writ petition for necessary legal action in this regard if they do not respond. Also read: Aug 21 grenade attack case appeal hearing to start this year: Minister

A writ petition has been filed with the High Court seeking its directive to the authorities concerned to pay compensation to the baby who was born during a road accident that left its parents and sister dead in Mymensingh. The bench of Justice Khizir Ahmed Choudhury and Md Zakir Hossain is expected to hear the writ petition, said Sayed Mahsib Hossain, a counsel of the petitioner. Supreme Court lawyer Kaniz Fatema filed the writ petition on Monday. Also read: Baby born on road after accident that kills parents, sister An investigation into the accident was also sought in the writ petition. Women and Child Affairs Secretary, Social Welfare Secretary, Road Transport and Bridges Secretary and Bangladesh Road Transport Authority were made respondents to the writ. A tragic road accident near court building area in Trishal upazila of Mymensingh left Jahangir Alam, 35, his pregnant wife Ratna Begum, 26, and their daughter Jannat Ara, 2, of Raymani village in the upazila, dead on the spot. Jahangir Alam went Trishal upazila headquarter with his eight-month pregnant wife and daughter for conducting a medical test of his wife. While crossing the highway a speeding Mymenshingh-bound truck knocked them down, leaving all three family members dead on the spot, said police. Miraculously the baby girl was born before the mother died on the road and she was taken to upazila health complex by locals. Also read: Road crashes claim 26 lives in 9 districts The newborn was then given advanced treatment at Mymensingh Medical College and Hospital (MMCH) and then at Community Based Medical College Hospital. Meanwhile, Deputy Commissioner of Mymensingh Mohammad Enamul Haque has taken all the responsibilities including treatment of the baby.

Bangladesh Shipping Corporation (BSC) awarded  over $500,000 in compensation to the family of deceased naval engineer Hadisur Rahman, and 7 months' pay to other crew of the Banglar Samriddhi, that came under a rocket attack at the port of Olvia in Ukraine. State Minister for Shipping Khalid Mahmud Chowdhury handed the $5,05,000 cheque to Hadisur’s family and seven months’ salary to other crew members at a programme held at the city’s BSC Tower. Besides, Hadisur’s brother has also been appointed at BSC as compensation. The state minister said, "We will not get Hadisur back." He said Hadisur's father told him over the phone, “Hadisur was our only source of income what would we do without him? This check is the answer for that also Hadisur's brother has been arranged a job BSC and later he will be given a permanent job in an agency under the Ministry of Shipping according to his qualifications.” On March 3, Hadisur, 47-year-old third engineer of Bangladeshi vessel ‘Banglar Samriddhi’, was killed in a rocket attack on the ship stranded at Ukrainian port Olvia. The BSC ship was positioned in the inner anchorage of Olvia port (Ukraine) when Hadisur was killed. On March 9, 28 surviving crew members of the Bangladeshi ship who were stranded in war-torn Ukraine, arrived back in Dhaka. They went from Ukraine to Moldova to reach Bucharest in Romania, from where they flew to Dhaka. The Bangladesh Shipping Corporation ship had been stranded at Olvia port in Ukraine since February 23, following Russia's invasion of its eastern European neighbour. Hadisur’s body was preserved in a bunker near Ukraine as the procedure to bring it back was delayed due to the worsening situation in Ukraine. Later, on March 14, his body did reach Dhaka. Also read: Hadisur buried in Barguna

The High Court on Wednesday issued a rule asking the government to explain as to why Tk one crore should not be given to Kabir Hossain, who lost his leg after being hit by a launch in Sadarghat, as compensation. Justice JBM Hassan and Justice Razik-Al-Jalil issued the rule after hearing a writ petition. Advocate Tanvir Ahmed stood for the petitioner while deputy attorney general Tushar Kanti Roy represented the state. Secretary to the Shipping Ministry, Chairman of Bangladesh Inland Water Transport Authority (BIWTA) and owner of Pubali-12 Launch Azgarh Khalashi and five others have bene made respondents to the rule. Advocate Tanvir filed a writ petition seeking Tk one crore as compensation for Kabir, a resident of Khilgaon area, on June 9. On May 18, a report headlined ‘How would I maintain household expenses?" says Kabir wife’ was published in vernacular daily and the report was also attached to the writ petition. READ: HC asks for update on graft case against AB Bank officials According to the report, Kabir Hossain, 28, a worker who used to work at a fan shop in Nababpur of the capital. On May 1, Kabir along with his wife, daughter and three sisters went to Sadarghat Launch to go to go to their home district on the occasion of Eid-ul-Fitr. Kabir fell in the middle of Pubali-12 launch and platoon while he was trying to board the launch amid crowd and got injured. Kabir’s left leg from below the knee got severed during the accident. 

Bangladesh Shipping Corporation (BSC) has arranged a compensation amount of $500,000 (USD) for the family of naval engineer Hadisur Rahman, who was killed in a rocket attack at the port of Olvia in Ukraine, while serving on the Banglar Samriddhi - a BSC vessel that was docked at the port.   BSC also announced  a payment equivalent to seven months' salary for other members of the Banglar Samriddhi, that was damaged in the attack. Hadisur’s brother has been offered a job at BSC and will join on June 1. The announcements were made at a meeting of the Board of Directors of BSC in the city on Wednesday. The meeting was presided over by State Minister for Shipping and Chairman of the BSC board of directors Khalid Mahmud Chowdhury. On March 3, Hadisur, 47-year-old third engineer of Bangladeshi vessel ‘Banglar Samriddhi’, was killed in a rocket attack on the ship stranded at Ukrainian port Olvia. The BSC ship was positioned in the inner anchorage of Olvia port (Ukraine), when Hadisur was killed due to a missile attack. Earlier on March 9, 28 surviving crew members of the Bangladeshi ship who were stranded in war-torn Ukraine, arrived back in Dhaka. They went from Ukraine to Moldova to reach Bucharest in Romania, from where they flew to Dhaka. The Bangladesh Shipping Corporation ship had been stranded at Olvia port in Ukraine since February 23, following Russia's invasion of its eastern European neighbour. Hadisur’s body was preserved in a bunker near Ukraine as the procedure to bring it back was delayed due to the worsening situation in Ukraine. Later, on March 14, his body did reach Dhaka. Also read: Hadisur buried in Barguna