Regulatory Alerts2012-04-17
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BRPD Circular Letter No. 04: Rate of Interest/Profit on Fixed/Term Deposits
The document instructs all scheduled banks operating in Bangladesh to submit weekly reports on fixed and term deposits of 1 crore Taka and above to the Banking Policy and Regulation Department, changing the previous requirement to a bi-weekly submission schedule. Banks must use a specified format that categorizes deposits into three tiers: 1 crore to less than 5 crore Taka, 5 crore to less than 10 crore Taka, and 10 crore Taka and above, reporting the total deposit amount, number of accounts, declared interest/profit rate, and paid interest/profit rate. All other instructions from the referenced Circular Letter No. 02 dated February 29, 2012, remain unchanged, and these directives take immediate effect.
BRPD Circular Letter No. 04 Banking Policy and Regulation Department Bangladesh Bank Head Office Dhaka. April 17, 2012 BRPD Circular Letter No. 04 Date: ------------------- Baisakh 04, 1419 Managing Director/Chief Executive All Scheduled Banks operating in Bangladesh. Dear Sir, Re: Rate of Interest/Profit on Fixed/Term Deposits. Reference is drawn to your attention to BRPD Circular Letter No. 02, dated February 29, 2012, on the subject cited above. Through the aforementioned Circular Letter, you were instructed to send a list of fixed/term deposits of 1 crore Taka and above issued/renewed by your bank to this department on a weekly basis in the prescribed format. From now on, you are instructed to send information on fixed/term deposits to this department on a bi-weekly basis in the following modified format:
| Deposit Amount | Total Number of Accounts | Declared Interest/Profit Rate | Paid Interest/Profit Rate |
|---|---|---|---|
| 1 crore Taka and above but less than 5 crore Taka | |||
| 5 crore Taka and above but less than 10 crore Taka | |||
| 10 crore Taka and above |
All other instructions of the aforementioned Circular Letter will remain unchanged. This directive will take immediate effect. Please acknowledge receipt. Yours faithfully, Signed (Md. Anowarul Islam) Deputy General Manager Phone: 7120377
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