The government is reconsidering the lifting of the existing purchase limit on the purchase of savings certificates, said Finance Secretary Md Khairuzzaman Majumder.

He also said that an initiative may be taken to change the policy related to the purchase and sale of savings certificates, as part of which the issue of lifting the limit imposed on purchases is being considered.

He said these at a seminar titled “Bond Market Development in Bangladesh: Challenges and Recommendations” held in the capital on Monday (January 26).

The finance secretary said that in the context of the times, reforming the savings certificate system has become urgent.

The government is giving importance to making the savings certificate market more realistic and effective through possible changes in the policy.

At the seminar, Bangladesh Bank governor Ahsan H Mansur said that if the bond transaction process in the country is simplified, the size of the bond market can be increased to about Tk600,000 crore.

This will reduce the dependence of large commercial institutions on banks and encourage them to enter the bond market or attract foreign investment for their own financing, he also said.

The governor also said that the future of the country's bond market depends on controlling inflation and keeping interest rates stable. If a single and realistic interest rate structure is introduced, it will be possible to build a sustainable bond market in the long run.