Bangladesh House Building Finance Corporation Bill, 2021 was placed in the Jatiya Sangsad keeping punishment of up to five years imprisonment or Taka 5 lakh fine or both for violating provisions of the proposed law.

Finance Minister AHM Mustafa Kamal on Monday placed the bill in the House with Speaker Dr Shirin Sharmin Chaudhury in the chair.

Piloting the bill, the finance minister said, “The draft law will be enacted replacing the Bangladesh House Building Finance Corporation Order, 1973.”

“According to the 1973 order, violators would have been penalized with up to two years of imprisonment or a fine not more than Tk 2,000 or both. But these punishments are not adequate, so we are going to boost both fine and prison terms in the proposed law,” he said.

The minister urged the House to send the bill to the concerned parliamentary standing committee for providing reports within 30 days.