People with savings certificates will most likely not profit from the Savings Certificate Policy 2017 if they are already benefiting from gratuity funds. The seven-member committee, headed by the director general of the Department of National Savings, recommended that those who have gratuity fund deposits should not receive profits from savings certificates. Finance Division officials said the government will not reduce the interest rate of savings certificates despite the finance minister’s repeated assertions. Big investors, especially corporate houses, industrial entrepreneurs and business groups who have bought savings certificates in unusually large volumes are being identified for further business. In the 2016-17 financial year, the government had a target of selling Tk19,610 crore in savings certificates.

Source: Dhaka Tribune August 27, 2017 12:33 UTC