Regulatory Alerts2015-09-17
Added · Updated
DMD Circular No. 02: Crediting Profit and Principal of Sanchayapatra directly to the investors' bank account and conducting wide publicity regarding this
The Department of Management Development (DMD) directs all scheduled banks in Bangladesh to credit the profit and principal of Sanchayapatra directly to investors' bank accounts or pay them in cash, following a similar initiative by Bangladesh Bank branches. Banks are advised to undertake extensive publicity campaigns to promote this service and enhance customer convenience.
Department of Management Development (Prize Bond, Sanchayapatra and Savings Bond Branch) Circular No.- DMD-02/2015
Date: 17/09/2015 Managing Director / Chief Executive Officer All Scheduled Banks of Bangladesh.
Dear Sir, Regarding crediting the profit and principal of Sanchayapatra directly to the customers' bank accounts and conducting wide publicity on this matter.
You are hereby informed that recently, through the Bangladesh Bank (Central Bank of Bangladesh), the process of paying the profit and principal of Sanchayapatra in cash/directly to the customers' bank accounts has been initiated at all branches of Bangladesh Bank.
In this regard, you are advised to initiate measures to pay the profit and principal of Sanchayapatra in cash/directly to the customers' bank accounts at all your branches and to conduct extensive publicity for the purpose of enhancing customer service.
Yours faithfully, (Md. Aulad Hossain Chowdhury) General Manager Phone: 9530131. Bangladesh Bank (Central Bank of Bangladesh) Head Office Motijheel, Dhaka-1000 Bangladesh