Regulatory Alerts2025-12-02
Added
DMD Circular Letter No. 14: Regarding Sale of Savings Certificates and Prize Bonds to the general public and the provision of related post-sale services.
The Department of Monetary Management directs scheduled banks (excluding Shariah-based banks) to follow specific operational guidelines for selling savings certificates and handling prize bond transactions, including strict timelines for check clearing and instrument issuance, prohibitions on forced account opening, and the requirement to submit prize bond claims and damaged bond claims to the relevant Bangladesh Bank office. The circular mandates adherence to previous directives regarding service standards, such as processing customer requests within three working days and ensuring timely interest/principal payments, while also decentralizing prize money payments through all Bangladesh Bank offices.
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