Regulatory Alerts2025-02-02
Added
DMD Circular Letter No. 06: Regarding Amendment of Instructions Related to Online Management System of National Savings Scheme
The Department of Data Management of Bangladesh Bank transmits a Ministry of Finance memo dated January 26, 2025, which cancels the instruction prohibiting the automatic reinvestment of bonds issued manually upon maturity under the National Savings Scheme Online Management System. This amendment applies to all scheduled banks operating in Bangladesh (excluding Shariah-compliant banks) and allows investors to use cash proceeds from matured manual bonds to purchase new bonds online. The directive also confirms the continued use of the National ID number for verification and the suspension of the legacy Government Savings Instrument Management System software effective November 30, 2021.
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