Govt to launch Floating Rate Treasury Bond

Govt to launch Floating Rate Treasury Bond
Published : 07 Jun 2018, 15:58:19
Govt to launch Floating Rate Treasury Bond
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The government is going to launch the Floating Rate Treasury Bond soon for developing the country’s bond market.
 
“It is possible to develop bond market through the transactions of various types of securities. Keeping this in view, we are going to launch the Floating Rate Treasury Bond,” said Finance Minister Abul Maal Abdul Muhith while unveiling the proposed budget for the next fiscal 2018-19 (FY19) in the Jatiya Sangsad here today.
 
He said the guidelines and directives have already been issued in this regard.
 
“It may be noted that in the banking sector, though the share of Islamic banking is around 20 per cent, no shariah-based securities have been introduced so far,” he added.
 
Currently, the finance minister said, the government is contemplating about the introduction of shariah-based securities.
 
Apart from this, he said, steps have been taken to create the database of Savings Certificate buyers and connect it with the NID database.
 
“It will be possible to bring more discipline in the management of savings certificate after completion of this programme,” he added.
 
Muhith said a Memorandum of Understanding (MoU) has been signed between Bangladesh Financial Intelligence Unit (BFIU) and the National Board of Revenue to exchange information and enhance inter-agency cooperation for preventing money laundering.
 
“Within the remit of this MoU, the two agencies will be able to exchange information in their respective databases while forging cooperation and sharing information to investigate money laundering cases,” he added.
 
Muhith said efficient monetary sector and well regulated capital market catalyse the economic activities of a country.-BSS
 
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