Regulatory Alerts2024-01-23
Added
DMD Circular Letter No. 02: Instructions to follow in Sale & after Sale service of Sanchaypatra
The Department of Market Development (DMD) of the Central Bank of Bangladesh instructs all scheduled banks (excluding Shariah-based banks) to adhere to specific guidelines for the sale and after-sale services of Sanchaypatra. Banks must follow DMD Circular No. 01/2022 for post-issuance services, provide Tax Deducted at Source (TDS) certificates for accrued profits to investors free of charge and without delay, and strictly comply with the Pensioner Sanchaypatra Policy 2004 (amended 2015) and DMD Circular Letter No. 08/2021 regarding the sale of pensioner instruments. These directives address complaints regarding service delays, unauthorized charges, and improper sales of pensioner Sanchaypatra.
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