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Bank & Finance - September 7, 2021

Punishment for buying savings certificates with false info

The cabinet has given final approval to the draft of Public Debt Bill, 2021 to make the existing law time-befitting with a provision of ensuring punishment in case of obtaining debt with false information.
The approval came from a weekly meeting held virtually with Prime Minister Sheikh Hasina in the chair yesterday. The Premier joined the meeting from her official residence Gonobhabon while her cabinet colleagues got connected from the cabinet division of the Secretariat.
Following the meeting, Cabinet Secretary Khandker Anwarul Islam briefed the media.
He said, “If anyone provides false information in obtaining the issued certificates under the government security and saving certificate schemes, he or she would face maximum six-month imprisonment and Tk one lakh fine or both.”
The cabinet secretary said a new provision was also incorporated in the proposed law that allows running a Shariah-based deposit system alongside the normal one.

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