Instructions to call ‘profit’ the dividend money kept in the provident fund

Bangladesh Bank has instructed to call the dividend of the money kept in the provident fund of any organization as profit from now on. From now on it can no longer be called ‘interest’. A circular in this regard has been issued by the Human Resources Division-1 of Bangladesh Bank on Sunday (February 14).

The circular signed by Kazi Akhtarul, General Manager, Human Resources Division-1, has been sent to all offices and departments of Bangladesh Bank.

The circular said that in the light of the notification of the Finance Department of the Ministry of Finance dated February 6, the appropriate authority decided to replace the word ‘interest’ with the word ‘profit’ as mentioned in Bangladesh Bank General Provident Fund Rules, 1983 and Bangladesh Bank Employee Provident Fund Regulation, 1956. Done.

At the same time all concerned are requested to replace the word ‘interest’ with the word ‘profit’ in all forms and other matters relating to funds relating to the two provisions mentioned. This decision will be considered effective immediately. The circular was issued with the approval of the appropriate authorities.

Sunbd/NJ