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The Cabinet on Monday approved the draft of Bangabandhu Sheikh Mujib Medical University (Amendment) Act, 2023 in a bid to extend the tenure of vice chancellor, pro-vice chancellor and treasurer to four years.
The approval came from the Cabinet meeting chaired by Prime Minister Sheikh Hasina at her office in the capital.
The draft law was designed to bring changes in several places of the existing Act of 1998, Cabinet Secretary Md Mahbub Hossain told a press briefing at Bangladesh Secretariat.
"Now the tenure of vice chancellor, pro-vice chancellor and treasurer is three years, which has been extended to four years keeping similarity to the tenures in other universities," he said.
The Cabinet also cleared the draft of Sylhet Medical University (Amendment) Act, 2023 to change its name as Bangamata Begum Fazilatunnesa Mujib Medical University, Sylhet.
As per the draft laws, the expenditures of the two universities can be audited by the office of Comptroller and Auditor General of Bangladesh.
Besides, the Cabinet approved the proposal of ratification of the agreement on the New Development Bank (NDB), a multilateral bank established by the BRICS states.
Bangladesh needs to ratify the agreement as it joined the bank, said the official.
"We've taken the membership of the bank. We've a handsome share in it. We want to strengthen our relationship with it," the cabinet secretary said.
The multilateral development bank was established in 2015 by Brazil, Russia, India, China and South Africa (BRICS) with the purpose of mobilising resources for infrastructure and sustainable development projects in emerging markets and developing countries.
Bangladesh and the United Arab Emirates (UAE) became its members in 2021, while Egypt in 2023. So, the number of its members is eight, as per NDB's website.
Replying to a question how Bangladesh would benefit from the ratification of this agreement, the cabinet secretary said several projects are already there. "The projects of over Tk600 crore are in the pipeline (from the bank). If the agreement is ratified, the projects (the fund) will be available," he said.
In reply to another question, he said that the bank is also working on an alternative currency.
Mahbub Hossain said lending agencies like the World Bank and the Asian Development Banks (ADB) don't finance fossil fuel-related projects, but the NDB has no restriction in this regard.
Besides, the Cabinet approved the drafts of National Tariff Policy, 2023, District (Enforcement in Chittagong Hill Tracts Districts) Act, 2023 and Bangladesh Police (Subordinate Employees) Welfare Fund Act, 2023.