Interest rates on savings certificates won’t be reduced soon

Staff Correspondent:  Finance Minister AMA Muhith has said that the government has decided to reduce interest rates on savings certificates but it will not be implemented before the national election.

A committee has been formed to review the overall situation of savings certificate.  The government will decide on how much interest rate of savings certificates will be reduced after the committee submits its report within next two months, the finance minister said.

Abul Maal Abdul Muhith said this after a meeting on savings certificates held with his chairmanship on Tuesday.

Attorney General, Bangladesh Bank Governor, Comptroller and Auditor General, Senior Secretary of Financial Institutions Division, Finance Secretary, Director General of National Savings Directorate and representatives of NBR were present at the meeting.

The interest rates of savings certificates were cut for the last time in 2015 by an average 2 per cent to rein in sales.


risingbd/Dhaka/Aug 7, 2018/Hasnat/Mukul