Regulatory Alerts2021-09-28
Added
DMD Circular Letter No. 05: Reduction of Commission on the sale of 5 (five) Savings Instruments
The document transmits a notification from the Ministry of Finance's Department of Internal Resources, dated September 16, 2021, which redefines the commission rates for the sale of five specific savings schemes. The new rates are set at 0.05% or a maximum of 500 BDT per registration, whichever is lower, applying to the 5-year Bangladesh Savings Certificate, profit-based savings certificates issued every 3 months, pensioner savings certificates, family savings certificates, and Post Office Savings Bank term accounts. This order is effective from the date of its issuance and is directed to the Chief Executive Officers of all scheduled banks operating in Bangladesh for necessary action.
50119
Bangladesh Bank (Central Bank of Bangladesh) Head Office Motijheel, Dhaka-1000 Bangladesh.
Data Management Department
13 Ashwin, 1428 Bangla Date: -------------------------- 28 September, 2021
DMD Circular Letter No.-05
Chief Executive Officer All Scheduled Banks operating in Bangladesh.
Dear Sir,
Regarding the reduction of commission rate on the sale of 5 (five) Savings Schemes.
In this regard, the Notification (No.- 08.00.0000.041.22.004.20) dated 16/09/2021 of the Department of Internal Resources, Ministry of Finance, Government of the People's Republic of Bangladesh, is being sent herewith for your kind information and necessary action.
Yours faithfully,
(Rup Ratan Pain) General Manager Phone: 9530131
Enclosure: 02 (Two) pages.
Phone: 88-02-9550848, 9554896, IP: 88-02-55665001-6, Fax: 88-02-9530479, www.bb.org.bd
Government of the People's Republic of Bangladesh Department of Internal Resources Ministry of Finance Savings Branch www.ird.gov.bd
No.-08.00.0000.041.22.004.20. Date: 01 Ashwin 1428 16 September 2021
Notification
The Government has redefined the existing rate of commission on the sale of 5 (five) Savings Schemes operated through the Online Management System as follows:
| Description of Savings Instrument | Commission Rate |
|---|---|
| (1) 5-year term Bangladesh Savings Certificate; | 0.05% |
| (2) Profit-based Savings Certificate issued every 3 months; | or |
| (3) Pensioner Savings Certificate; | Up to 500 (five hundred) Taka per registration; |
| (4) Family Savings Certificate; and | Whichever is lower of the two. |
| (5) Post Office Savings Bank - Term Account | |
| (On total deposit). |
- This order is issued in the public interest. It shall come into force from the date of its issuance.
By Order of the President Signed/- (Nusrat Jahan Nisu) Senior Assistant Secretary
No.-08.00.0000.041.22.004.20.46/1(18) Date: 01 Ashwin 1428 16 September 2021
Copies are sent for kind information and necessary action (not in order of seniority):
- Secretary to the Cabinet, Cabinet Division / Principal Secretary to the Prime Minister, Office of the Prime Minister.
- Governor, Bangladesh Bank, Head Office, Dhaka.
- Senior Secretary, Finance Division, Ministry of Finance, Dhaka.
- Secretary, Ministry of Posts and Telecommunications / Ministry of Information / Financial Institutions Division, Ministry of Finance, Bangladesh Secretariat, Dhaka.
- Director General, National Savings Department, Dhaka.
- Director General, Post Office Department, Dhaka.
- General Manager, Data Management Department, Bangladesh Bank, Head Office, Dhaka.
- Personal Secretary to the Senior Secretary, Department of Internal Resources, Ministry of Finance.
- Deputy Director, Bangladesh Forms and Publications Office, Tejgaon, Dhaka (It is requested to print the notification in the next Gazette and send 1000 (one thousand) copies of the said Gazette to the undersigned).
- Chief Accounts and Finance Officer, Office of the Chief Accounts and Finance Officer, Department of Internal Resources, Segunbagicha, Dhaka.
Continued on page-2
--2--
- Assistant Programmer, ICT Branch, Department of Internal Resources, Dhaka.
- Personal Assistant to the Joint Secretary (Savings), Department of Internal Resources, Dhaka.
- Office Copy / Guard File / Master Copy.
Signed 26/09/21 (Nusrat Jahan Nisu) Senior Assistant Secretary