Regulatory Alerts2023-12-12
Added
BRPD Circular Letter No. 75: Rationalization of Interest Rate on Deposit
The Bangladesh Bank revokes the instructions contained in BRPD Circular Letter No. 17 dated August 8, 2021, which previously prohibited scheduled banks from setting deposit interest rates below the inflation rate for specific time deposits. This repeal removes the mandatory minimum interest rate floor for personal deposits with a tenure of three months or more and various provident funds established for government/private employees. Scheduled banks operating in Bangladesh are now authorized to determine the interest rates on collected deposits at their own discretion.
Topics
monetary
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