Regulatory Alerts2025-02-27
Added
DMD Circular Letter No. 07: Regarding Meeting Minutes Related to National Savings Schemes
The document transmits the minutes of a meeting held on February 5, 2025, regarding the migration of National Savings Scheme bonds from manual to online management. It mandates that while manual renewal of Wage Earner Development Bonds, US Dollar Premium Bonds, and US Dollar Investment Bonds continues until maturity, all renewals must subsequently occur via the National Savings Scheme Online Management System. The decision requires the creation of a Client Interface for investors to upload documents and consent, the consolidation of required forms, the prioritization of National ID (NID) verification, and the automation of cash incentive refunds to ensure smooth remittance flows.
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