Cenbank launches surprise inspections at banks over savings certificate complaints

Bangladesh Bank has launched surprise inspections at
branches of 40 commercial banks across the country over allegations that they
are discouraging customers from purchasing government savings certificates.
The inspections, being carried out
by the central bank's Debt Management Department today (28 June) and also
tomorrow, are being conducted anonymously, with officials not disclosing their
identities, a senior Bangladesh Bank official confirmed to The Business
Standard.
Last week, the central bank
instructed the managing directors and chief executive officers of all scheduled
banks to continue selling savings certificates and to promptly address customer
complaints related to the service.
The Debt Management Department issued the directive in a letter sent to the
heads of all scheduled banks on Wednesday (24 June), In recent days, people
have raised complaints on social media that many banks have stopped selling
savings certificates.
According to the Bangladesh Bank
letter, the central bank has received complaints from customers alleging that,
despite being authorised to sell savings certificates, several scheduled banks
are discouraging investors through various procedural hurdles.
















