Personal retail account holders’ bank charges waived

Bangladesh Bank logo

Jehangir Hussain

Bangladesh Bank in a circular on Sunday directed banks not to charge different fees and commissions from micro and small personal retail account holders.

In this regard the central bank’s Banking Regulation and Policy Department (BRPD) issued letters to all the Chief Executive Officers or Managing Directors of scheduled commercial banks.

The master circular states that aiming to bring labour intensive micro/floating entrepreneurs, different terminal level service providers and social media based small entrepreneurs  into banking system the BB instructs the banks to waive the bank charges and fees.

It is an initiative to bring the personal retail account holders into digital payment ecosystems.

The new directive would be effective immediately and would continue until further notice.

jehangirh01@gmaim.com