Regulatory Alerts2014-12-22
Added · Updated
DMD Circular No. 09: Investment of Gratuity Fund of Financial Institutions in Sanchaypatro
The document instructs financial institutions to liquidate gratuity fund investments in 5-year Bangladesh Savings Certificates, as such investments were not permitted under the Sanchayapatra Rules, 1977. Institutions must identify officers involved in these sales and report them to the department. Additionally, it specifies that no interest or profit is payable on savings certificates held in violation of the rules.
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