DMD Circular Letter No. 06: Regarding Amendment of Instructions Related to Online Management System of National Savings Scheme

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Bangladesh Bank (Central Bank of Bangladesh) Head Office Motijheel, Dhaka-1000 Bangladesh.

Data Management Department

DMD Circular Letter No.-06 Date: 19 Magh, 1431

02 February, 2025

Managing Director / Chief Executive Officer All Scheduled Banks Operating in Bangladesh (Excluding Shariah-compliant Banks)

Dear Sir,

Regarding the operation of transaction activities of Savings Schemes under the 'National Savings Scheme Online Management System'.

Reference is drawn to your attention to the letter No.-DMD/SB/20/2021-2068 dated 23 November, 2021 issued by this department regarding the Memo No.-07.00.0000.103.18.095.18-595 dated 17 November, 2021 of the Finance Division, Ministry of Finance, Government of the People's Republic of Bangladesh.

2. In continuation of the aforementioned memo, the Memo No.-07.00.0000.103.18.002.18-598 dated 26 January, 2025 issued by the Finance Division, Ministry of Finance is being sent herewith for your information and necessary action.

Yours faithfully,

(Signature) (Istekmal Hossain) Director (DMD) Phone: 9530131

Enclosure: As described.

Phone: 88-02-9550448, 9554896, IP: 88-02-55665001-6, Fax: 88-02-9530499, www.bb.org.bd

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Government of the People's Republic of Bangladesh Finance Division, Ministry of Finance Budget Sub-division-1, Branch-3 www.mof.gov.bd

Memo No.-07.00.0000.103.18.002.18-598 Date: 12 Magh 1431 26 January 2025

Subject: Operation of transaction activities of Savings Schemes under the 'National Savings Scheme Online Management System'.

Source: 1. Memo No.-08.00.0000.041.22.004.20-156 dated 19.12.2024 of the Internal Resources Division 2. Memo No.-07.00.0000.103.18.002.18-595 dated 17.11.2021 of the Finance Division

In the context of the proposal from the Internal Resources Division, the part of Memo No.-07.00.0000.103.18.002.18-595 dated 17.11.2021 issued by the Finance Division under the 'National Savings Scheme Online Management System' stating that 'bonds issued manually will not be provided with automatic reinvestment facilities upon maturity' is hereby cancelled.

(Signature) 26.01.2025 (Md. Mashur Rahman Talukdar) Deputy Secretary ☎ 222301386 E-mail: moshiur789@yahoo.com

Secretary Internal Resources Division Ministry of Finance, Bangladesh Secretariat, Dhaka

Copy for information and necessary action to:

1. Governor, Bangladesh Bank, Motijheel, Dhaka
2. Director General (Additional Secretary), National Savings Directorate, NSC Tower (18th Floor), Purana Paltan, Dhaka
3. National Program Director (Additional Secretary), SPFMMS Program, IEB Headquarters, Dhaka
4. Private Secretary to the Secretary, Finance Division, Bangladesh Secretariat, Dhaka
5. General Manager, Data Management Department, Bangladesh Bank, Head Office, Motijheel, Dhaka

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Bangladesh Bank (Central Bank of Bangladesh) Head Office Motijheel, Dhaka-1000 Bangladesh.

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Data Management Department (Savings Certificate Branch)

Source No.-DMD/SB/20/2021-2068 Date: 23 November 2021

Managing Director / Chief Executive All Scheduled Banks Providing Savings Certificate Services

Regarding the activation of the module prepared for the online operation of transaction activities of Savings Certificates (Wage Earner Development Bond, US Dollar Premium Bond, and US Dollar Investment Bond) under the 'National Savings Scheme Online Management System'.

Dear Sir,

You are aware that a new module has been prepared for the operation of transaction activities of Savings Certificates through the 'National Savings Scheme Online Management System' developed under the 'Strengthening Public Financial Management Program to Enable Service Delivery (SPFMMS)' program being implemented by the Finance Division, Ministry of Finance. Training has been provided to the concerned officers of your banks involved in the transaction activities of Savings Certificates on the aforementioned module described by SPFMMS, and necessary preparations including office mapping have been completed.

2. Now, you are hereby directed to conduct all activities of Wage Earner Development Bond, US Dollar Premium Bond, and US Dollar Investment Bond through the newly prepared module under the 'National Savings Scheme Online Management System' starting from 30 November 2021. In this regard, the following instructions must be followed:

a) Wage Earner Development Bond, US Dollar Premium Bond, and US Dollar Investment Bond will not be issued manually on or after 30 November 2021. Savings certificates must be issued only online using the URL of the 'National Savings Scheme Online Management System' https://ibas.finance.gov.bd; b) Automatic reinvestment facilities will not be provided for bonds issued manually upon maturity on or after 30 November 2021. However, bonds may be issued online in the name of eligible investors for the purchase of bonds using the cashed amount from bonds issued manually; c) The National ID (NID) number of the investor will be used as 'Unique Identification Number' in the 'National Savings Scheme Online Management System', based on which the amount of investment in Savings Certificates and other applicable savings schemes will be verified and normal profit will be provided.

3. It is mentioned in this context that the activities of the currently running software named Government Savings Instrument Management System (GSIMS) piloted at your banks regarding Savings Certificate transactions are hereby suspended starting from 30 November 2021.

Yours faithfully,

(Signature) (Md. Rezaul Hasan) Deputy Director Phone: 9530130.

Phone: 88-02-9550448, 9554896, IP: 88-02-55665001-6, Fax: 88-02-9530499, www.bb.org.bd

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Government of the People's Republic of Bangladesh Finance Division, Ministry of Finance Budget Sub-division-1, Branch-3 www.mof.gov.bd

Memo No.-07.00.0000.103.18.002.18-595 Date: 2 Agrahayan 1428 17 November 2021

Subject: Activation of the module prepared for the online operation of transaction activities of Wage Earner Development Bond, US Dollar Premium Bond, and US Dollar Investment Bond under the 'National Savings Scheme Online Management System'.

Source: Memo No.-07.00.0000.04.004.11-119 dated 14.11.2021 of the SPFMMS Program Office

A new module has been prepared for the operation of transaction activities of Savings Certificates through the 'National Savings Scheme Online Management System' developed under the 'Strengthening Public Financial Management Program to Enable Service Delivery (SPFMMS)' program being implemented by the Finance Division. The prepared module is currently being successfully operated through various branches of commercial banks. Meanwhile, training has been provided to a considerable number of concerned officers of all banks involved in the transaction activities of Savings Certificates on the aforementioned module by the concerned officers of Bangladesh Bank. Furthermore, it is necessary to fully launch the bond issuance office to facilitate the completion of all necessary preparations including office mapping.

2. In order to fully conduct the activities of Wage Earner Development Bond, US Dollar Premium Bond, and US Dollar Investment Bond online, the issuance offices must follow the following instructions:

(a) Wage Earner Development Bond, US Dollar Premium Bond, and US Dollar Investment Bond will not be issued manually on or after the full launch date. Savings certificates may be issued only online using the URL of the 'National Savings Scheme Online Management System' https://ibas.finance.gov.bd; (b) Automatic reinvestment facilities will not be provided for bonds issued manually upon maturity on the aforementioned date or thereafter. However, bonds may be issued online in the name of eligible investors for the purchase of bonds using the cashed amount from bonds issued manually; (c) The National ID (NID) number of the investor will be used as 'Unique Identification Number' in the 'National Savings Scheme Online Management System', based on which the amount of investment in Savings Certificates and other applicable savings schemes will be verified and normal profit will be provided;

3. It is mentioned in this context that it is necessary to launch the module prepared for Savings Certificates in all issuance offices and to organize a virtual inaugural ceremony for bond promotion. The Governor of Bangladesh Bank will be the Chief Guest; the Senior Secretary of the Internal Resources Division and the Senior Secretary of the Finance Division will be the Special Guests, and the ceremony will be made successful with the participation of other stakeholders. If the described module is launched successfully, it will be possible to bring 9 savings schemes onto a single online platform.

4. In the aforementioned context, it is requested to provide necessary instructions to scale up the module under the 'National Savings Scheme Online Management System' for the online transaction activities of Wage Earner Development Bond, US Dollar Premium Bond, and US Dollar Investment Bond in all issuance offices during a convenient time in November. At the same time, consent is requested for participation as the Chief Guest in the organized virtual inaugural ceremony, along with determining the date and time of the ceremony.

(Signature) 17.11.2021 (Md. Tauhidul Islam) Deputy Secretary ☎ 222301386 E-mail: touhiduli@finance.gov.bd

Governor Bangladesh Bank Motijheel, Dhaka

Copy for information and necessary action to:

1. Senior Secretary, Internal Resources Division, Ministry of Finance, Bangladesh Secretariat, Dhaka
2. Director General (Additional Secretary), National Savings Directorate, Bangladesh Secretariat, Dhaka
3. National Program Director (Additional Secretary), SPFMMS Program, IEB Headquarters, Dhaka
4. Private Secretary to the Senior Secretary, Finance Division, Bangladesh Secretariat, Dhaka
5. General Manager, Data Management Department, Bangladesh Bank, Head Office, Motijheel, Dhaka

Executive Director-9