Business Report :
Net sale of state-run savings instruments in July this year increased by only Tk2,187 crore, following a period of negative growth over the past year. The net sales of savings certificates in June showed a negative growth of Tk3,381 crore in June over the matching period of the last year due to the prevailing higher rate of encashment than the investment.
The net sale of saving certificates showed a negative growth of Tk347 crore in July last year.
The substantial positive growth in net sales of national instruments, known as NSAs, also suggested an increase in confidence in these tools in July this year.
The net sales of such instruments in May dropped by Tk3,094 crore, according to the Bangladesh Bank data. Net sales of the government savings instruments saw a dramatic year-on-year decline of more than 309per cent in the first ten months (July-April) of FY24.
The central bank data shows negative growth in savings instruments of Tk14,648 crore for July-April of FY24. In contrast, sales of savings certificates during the same period in FY23 exceeded Tk3,579 crore.
The net sale of savings certificates is calculated by deducting the amount repaid for previously sold certificates from the total sales.
Outstanding amount of saving instruments also showed a significant decline during the last fiscal year.
