Provident funds can be invested in savings certificates, bond
UNB, Dhaka
Provident funds of the recognised institutions can henceforth be invested in savings certificates and bonds.This was decided by the government, which reintroduced the system by further amending the Savings Certificates Rules of 1977 (as amended till June 30, 2002). A notification was issued yesterday to restore the system, a PID handout said. Since June 2002, public and private institutions, including schools and colleges, have been barred from investing accumulated amounts of their provident funds in savings instruments. Yesterday's notification removed the restriction.
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