Regulatory Alerts2024-11-06
Added
DMD Circular Letter No. 13: Regarding Policy Revisions in National Savings Schemes
The Government of Bangladesh amends National Savings Scheme policies by withdrawing the upper limit for investment in Wage Earners Development Bonds and introducing automatic reinvestment facilities for various savings instruments, including principal-only or principal-plus-profit options depending on the scheme. The circular also mandates monthly profit payments for Pension Savings Certificates instead of quarterly, allows non-resident Bangladeshi mariners to invest remittances in Wage Earners Development Bonds, and sets the effective date as December 1, 2024. These changes apply to scheduled banks and the National Savings Department.
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