BRPD Circular Letter No. 09: Master Circular on Schedule of Charges

Bangladesh Bank
Chief Executive Office
Motijheel, Dhaka-1000
Bangladesh.
Ref: BRPD Circular Letter No. 09
Date: -----------------
05 Chaitra 1429

To,
Managing Director / Chief Executive Officer
All Scheduled Banks operating in Bangladesh

Dear Sir,

Reference is drawn to BRPD Circular No. 11, dated 10 June 2021, and PSD Circular No. 09, dated 16 November 2020, regarding the subject cited above and the context of individual retail account operations.

2. Through BRPD Circular No. 11/2021, guidelines were provided regarding various charges/fees/commissions imposed by banks. On the other hand, through PSD Circular No. 09/2020, instructions were given regarding the provision of "Individual Retail Account" facilities through current accounts by banks and agent banks.

3. Now, in order to bring micro/marginal entrepreneurs dependent on labor, service providers engaged in various primary professions, and product sellers and service providers running their own/individual businesses through social media platforms into the digital payment ecosystem through banking services, the following instructions shall be followed until further instructions are not issued, considering individual retail accounts as specially privileged accounts:

a) Individual retail accounts shall remain exempt from minimum deposit obligations; b) No account maintenance fee shall be charged against individual retail accounts.

4. These instructions are issued under the powers conferred by Section 45 of the Companies Act, 1991, and shall take immediate effect.

Yours faithfully,

(Md. Ali Akbar Farazi)
Director (BRPD)
Phone: 9530252