Regulatory Alerts2022-03-13
Added
DFIM Circular No. 05: Regarding inadmissible expenses of financial institutions for mobilizing deposits
Financial institutions operating in Bangladesh are prohibited from incurring any hidden expenses, such as commission, development, or business development costs, for mobilizing deposits, beyond their officially declared interest or profit rates. Additionally, these institutions are required to regularly publish updated information regarding their interest and profit rates on their respective websites. This directive, issued under Section 18(g) of the Financial Institutions Act, 1993, is effective immediately for all financial institutions.
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