Regulatory Alerts2019-04-04
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DMD Circular No. 01: Implementing "National savings scheme online management system" along with direct payment of Interest and principal amount of Sanchaya scheme through BEFTN to beneficiary account
All scheduled banks operating in Bangladesh are required to implement the "National Savings Scheme Online Management System" in phases, starting with Dhaka by March 2019, divisional cities by April 2019, and all other offices nationwide by June 2019. From July 1, 2019, all savings scheme transactions must be conducted exclusively through this new system. The system will ensure that daily sales are debited from commercial bank accounts and credited to government accounts, and that savings scheme interest and principal amounts are directly transferred to customer bank accounts via BEFTN.
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