Regulatory Alerts2024-12-19
Added
DMD Circular Letter No. 15: Regarding Clarifications about the Revised Policies of National Savings Schemes
The document clarifies that investors in specified National Savings Schemes, including 5-year Bangladesh Savings Certificates, can reinvest up to the upper limit for life, with amounts exceeding the limit automatically transferred to their bank accounts. It mandates online or physical consent for each reinvestment, requires proof of tax return submission, and specifies that joint account limits are determined by the investor with the highest limit. Additionally, it establishes a three-tier approval process for bank account changes and mandates monthly profit payments for Pensioner Savings Certificates issued under the online system.
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