Highest slab goes to spur investment

The government has lifted the maximum investment ceiling on Wage Earner Development (WED) bonds to encourage expatriates in investing in the country.

The Internal Resources Division (IRD) has also permitted expatriate mariners, pilots and cabin crew employed by foreign shipping and airline companies to invest in WED.

A circular, issued on Sunday, outlined these changes. It will take effect on 01 December 2024.

Additionally, the IRD has streamlined reinvestment options available for various savings tools, including WED, Family Savings Certificates, Pensioner Savings Certificates, Three-month term Savings Certificates, US Dollar Premium Bonds and US Dollar Investment Bonds.

Investors will now have the ability to reinvest in a five-year term Bangladesh Savings Certificate and Post Office Savings Bank term accounts.

An expatriate can invest in WED for one term and reinvest for two consecutive terms, allowing for a total investment period of 15 years across three terms.

For the US Dollar Premium Bond and US Dollar Investment Bond, reinvestments will be valid for four consecutive terms.

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