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New Guidelines from the Central Bank on Savings Certificates

Rtv News

  25 Sep 2024, 09:40
Photo: Collected

After the maturity of savings certificates, customers often have to go from bank to bank to withdraw their principal amount, facing various forms of harassment. To free customers from this inconvenience and harassment, the central bank has issued new guidelines. According to these guidelines, from now on, the full principal along with the accrued profit must be deposited into the customer's bank account on the day of the savings certificate's maturity.

On Tuesday, September 24, Bangladesh Bank’s Debt Management Department issued this directive.

The guidelines state that profits or interest from savings certificates sold through the National Savings Scheme Online Management System must be ensured to reach customers on time via checks. Additionally, on the maturity date of the savings certificates, the full amount, including the profit, must be deposited into the customer's designated account through the central bank’s EFT (Electronic Funds Transfer) system, based on the intimation.

Furthermore, it is instructed that the sales and post-sale services of instruments (savings certificates and savings bonds) under the National Savings Scheme, as per the circular issued on June 20, 2022, must be strictly followed.

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