The Bangladesh Bank has mandated all scheduled banks to maintain uninterrupted services for savings certificates in response to customer complaints about challenges in purchasing the instruments through banks.
In a circular released recently, the central bank emphasized the responsibilities of banks as authorized issuing offices under the Savings Certificate Rules, 1977, noting that some branches were not adequately supporting investors.
The directive comes amid concerns that certain branches were failing to offer the necessary assistance to investors interested in buying savings certificates.
Banks have been instructed to enhance customer service, ensure eligible investors face no unnecessary hurdles in accessing the instruments, and regularly monitor their savings certificate operations to address complaints promptly.
Additionally, the central bank has directed branches to prominently display procedures for submitting complaints so that customers can easily seek assistance.
Savings certificates are among the most popular savings tools in Bangladesh, and this action is anticipated to enhance customer accessibility to savings certificates and bolster confidence in these financial instruments.
