Regulatory Alerts2021-09-19
Added
FID Circular Letter No. 02: Regarding transaction of 'Bangabandhu Shikkha Bima' policy through School Banking Account
Bangladesh Bank instructs all scheduled banks to facilitate transactions for the 'Bangabandhu Shikkha Bima' insurance policy through students' school banking accounts without deducting any service charges or fees. The Life Insurance Corporation is designated as the insurer for this initiative, and banks are encouraged to promote the opening and maintenance of these accounts. Previous circulars regarding this matter remain in effect.
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Bangladesh Bank (Central Bank of Bangladesh) Head Office Motijheel, Dhaka-1000 Bangladesh.
Financial Inclusion Department
FID Circular Letter No. 02/2021 Date: 19 September 2021 04 Ashwin 1428
Managing Director/Chief Executive All Scheduled Banks operating in Bangladesh.
Dear Sir,
Regarding the conduct of transactions related to 'Bangabandhu Shikkha Bima' through school banking accounts.
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Reference is drawn to your attention to GBGSRD Circular No. 07 dated 28 October 2013, FID Circular No. 03 dated 27 September 2015, and FID Circular Letter No. 02 dated 26 January 2016.
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As part of the initiative by the Government of the People's Republic of Bangladesh, with the overall cooperation of the Insurance Development and Regulatory Authority, work has begun to implement 'Bangabandhu Shikkha Bima' in honor of the Father of the Nation, Bangabandhu Sheikh Mujibur Rahman, during the Mujib Century. In the field of 'Bangabandhu Shikkha Bima', the Life Insurance Corporation will perform the role of insurer. The relevant financial transactions for 'Bangabandhu Shikkha Bima' will be completed through students' school banking accounts. No kind of service charge/fee deduction will be allowed. Students must be encouraged to open school banking accounts and continue transactions.
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In addition, the other instructions mentioned in the aforementioned circulars and circular letters will remain unchanged.
Yours faithfully,
(Md. Ruhul Amin) General Manager Phone: 9530343 Email: amin.ruhul@bb.org.bd
Phone: 88-02-9550448, 9554896, IP: 88-02-55665001-6, Fax: 88-02-9530479, www.bb.org.bd