Cenbank launches surprise inspections at banks over savings certificate complaints
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.
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.
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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.
