Banks asked to pay govt savings tools’ profit, principal thru bank accounts

Posted by BankInfo on Fri, Sep 18 2015 10:51 am

Bangladesh Bank on Thursday asked scheduled banks to pay the profit from savings bonds and certificates and the principal through the investors’ bank accounts. The BB issued a circular to managing directors and chief executive officers of all banks saying that the central bank had already taken initiative to pay the profits from the government instruments and principal to the investors’ bank accounts. The BB asked the banks to take the same step in accordance with the central bank initiative, according to the circular. A BB official told New Age on Thursday that the clients earlier had to come to the banks on mandatory basis to receive their principal and profit against their investment on savings instruments. But, the clients will not require coming to the banks as the amount will be deposited with the investors’ bank accounts through Electronic Fund Network System once the banks take measures in this regard, he said. The BB asked the banks to inform their all clients about the matter. 

News:New Age/17-Sep-2015
Posted in Banking, News

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