The Secure Transactions of (Moveable Assets) Bill, 2023 was placed in Parliament on Tuesday, aiming to bring movable property under the definition of collateral for bank loans. 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 15 days. If enacted the new law will bring a broader definition of collateral for bank loans. As a result, not only the immovable property, but also fixed deposits or movable property like gold, silver, intellectual property can be taken as collateral for loans from banks, and financial institutions. However, the movable property must be registered for a mortgage. For this purpose, it has been decided to have a separate authority for the registration of movable assets for which valuation of those is possible, mentioned in the proposed law. As a result, both banks and borrowers will benefit, and providing loans will be easier, as stated in the text of the Bill. Govt doesn’t interfere with press freedom: Hasan Mahmud tells Parliament In order to borrow a certain amount of money from a bank or financial institution, a visible asset or equal value like land or building must be deposited or mortgaged in the bank. With the new 'Secured Transactions' Bill, banks will be able to hold other floating assets to market value as collateral instead of tangible assets to borrow from banks. As per the proposed law, from now on anyone can take loans against fixed deposits in banks, gold and silver or raw materials kept for export. Finance Minister briefs parliament on BFIU's activities Anything that is copyrighted can be pawned to the bank. Also, products like furniture, electronics, software, and apps can also be kept with the bank while taking loan, subject to pricing. Besides, the bank will also give loans against fish in ponds, garden trees, and cattle. The proposed law would pave the way for the small and medium-level entrepreneurs to take bank loans.  

The Private Medical College and Dental College Bill, 2022 was placed in Parliament on Wednesday to ensure discipline in private medical and dental colleges by bringing those under a law instead of  two separate guidelines. Health Minister Zahid Maleque placed the Bill and it was sent to the respective Parliamentary Standing Committee for further scrutiny. The committee was asked to submit its report within 60 days. The country’s private medical and dental colleges are now operated under the Private Medical College Establishment and Operation Guidelines, 2011 and Private Dental College Establishment and Operation Guidelines, 2009. Read: Speaker nominates panel chair of 17th JS session As per the bill, a private medical or dental college must have at least 50 students while its teachers-students ratio will have to be 1:10 as per the proposed law. A medical college needs to have at least two acres of land in any metropolitan area while the land requirement for the dental college is one acre. For setting up a medical college outside any metropolitan area, the land requirement is four acres and it is two acres for a dental college.  

The Bangabandhu Sheikh Mujibur Rahman Science and Technology University, Pirojpur Bill 2021 was placed in parliament, aiming to establish another university in the country for advancing science and technology-based education. Education Minister Dr Dipu Moni 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. Read: Public Debt Bill lands in Parliament The proposed university will be a prototype of the existing science and technology universities. The President would be the Chancellor of the university.

The Civil Courts (Amendment) Bill, 2021 was placed in Parliament on Tuesday to raise the pecuniary jurisdiction of lower court judges for disposing of the civil cases.

A bill titled ‘Sheikh Hasina Medical University, Khulna Bill, 2020 was placed in Parliament on Tuesday, aiming to expand the facilities of medical education, research and healthcare services in Khulna division.