Bdnews24.com . Dhaka
Investment in national savings certificates has increased two and a half times in the first half of the 2008-09 fiscal year compared with the previous year.
Reduced inflation and suspension of anti-graft drive have contributed to the rise of investment in savings schemes, experts say.
According to the central bank data, savings certificates worth Tk 789 crore were sold in the first six months (July-December 2007) of the last FY, which has increased to Tk 1,707 crore for the July-December 2008.
During the FY 2007-08, savings certificates worth Tk 2,518 crore were sold. In December 2007, savings certificates worth Tk 96 crore were sold, whereas the amount was Tk 171 crore for December 2008.
Again, as per central bank data, investment in savings certificates at the end of FY 2007-08 stood at Tk 46,579 crore, which increased to Tk 47,864 crore at the end of December of FY 2008-09.
Zaed Bakht, senior research director at the Bangladesh Institute of Development Studies, told the news agency, ‘The two main reasons of reduced investment in savings certificate in the last fiscal year were spiralling commodity prices suppressing people’s financial prowess and the caretaker government’s anti-graft drive.’
Bakht said, ‘Last year, people tended to invest more in the share market during the first six months as the bourses perked up after a period of slumber.’
Witnessing a reverse trend in the share market, people are investing more in savings certificates, he said.
Courtesy of www.newagebd.com
