Regulatory Alerts2018-12-17
Added · Updated
FID Circular Letter No. 02: Regarding transformation of school banking account into general savings account
The document advises scheduled banks in Bangladesh to promptly convert school banking accounts of students who have reached the age of 18 into general savings accounts, subject to the account holder's consent. Banks are required to regularly report progress on this conversion to the Financial Inclusion Department using the format specified in the attachment of FID Circular Letter No. 01 dated January 28, 2018.
FID Circular Letter No. 02
Bangladesh Bank (Central Bank of Bangladesh)
Head Office
Motijheel, Dhaka-1000
Bangladesh
Financial Inclusion Department
FID Circular Letter No.: 02 Date: 17 December 2018 03 Poush 1425
Managing Director / Chief Executive Officer
All Scheduled Banks Operating in Bangladesh
Dear Sir,
Regarding the transformation of school banking accounts into general savings accounts.
Reference is drawn to your attention to GBCSR Circular No. 07 dated October 28, 2013, and FID Circular Letter No. 01 dated January 28, 2018.
It is advised to convert the accounts of students whose age has exceeded 18 years into general savings accounts at the earliest, with the consent of the account holder.
In this context, you are requested to regularly send information regarding the progress of this matter to this department in the format specified in Annexure-B of FID Circular Letter No. 01 dated January 28, 2018.
Yours faithfully,
(Md. Abul Bashar)
General Manager
Phone: 9530343
More like this from BB
BB published 33 documents in the last 30 days. We email you each new one the day it's published.