Offer prompt services to investors of savings tools

Bangladesh Bank yesterday asked banks to provide the financial services required for clients to invest in savings bonds and instruments.

Allegations have come up that many clients face harassment from banks as they do not provide services on time, according to a BB notice.

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As per the central bank instruction, lenders have to submit funds deposited by clients to the central bank's clearing houses within a day, after which they have to issue the savings bonds or certificates to savers.

Lenders have to fulfil the requirements of clients, such as change of nominees, account numbers and mobile phone numbers, or problems related to electronic fund transfers (EFT).

The BB asked to settle the said issues within three working days.

The cheques presented for clearing houses will not be returned to clients without any valid reason.

Clients will not be compelled to open separate deposit accounts with the banks while depositing money for purchasing savings instruments.

A BB official said a good number of clients had recently submitted complaints to the central bank, saying they were frequently facing several kinds of problem while investing money in government instruments.

Against this backdrop, the central bank issued the notice asking banks to provide services promptly.