Regulatory Alerts2018-06-26
Added · Updated
DFIM Circular Letter No. 06: Refraining from offering high interest rate through mobile phone messaging to collect deposit
All financial institutions operating in Bangladesh are directed to refrain from using mobile phone messaging to solicit deposits by offering high interest rates. This directive aims to prevent the discomfort and undesirable situations arising from such promotional practices, following previous instructions on the publication of interest rates and fees. The order is issued under the authority of Section 18(c) of the Financial Institutions Act, 1993.
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