New ordinance increases bank deposit protection to Tk 200,000

The government has approved a draft of the “Deposit Protection Ordinance, 2025”, which will increase the deposit guarantee from Tk 100,000 to Tk 200,000 for bank and financial institution depositors. The ordinance was approved by the Advisory Council, ensuring that if a bank or financial institution is liquidated, each depositor will receive compensation up to Tk 200,000. The decision was finalised during a meeting of the Advisory Council, and the draft ordinance was approved by the Finance Ministry’s Financial Institutions Division. The move amends the 2000 “Bank Deposit Insurance Act” to include deposit guarantees for financial institutions, which were previously not covered. Shafiqul Alam, press secretary to the chief advisor, said in a media briefing, “Previously, the deposit guarantee was...