Dhaka, Bangladesh (BBN)- The central bank of Bangladesh has initiated a move for streamlining financial institutions’ charges, fees and commissions aiming to protect interests of depositors, investors and clients, officials said on Tuesday.

Bangladesh Bank (BB) issued a circular in this connection on Tuesday and asked chief executives and managing directors of all non-banking financial institutions (NBFIs) to maintain the instructions properly.

“We’ve taken the decision to rationalize the charges, fees and commission of the NBFIs,” a BB senior official said, adding that the BB has formulated the “schedules of charges” on the basis of data, provided by the NBFIs earlier.

The central bank has taken the latest move after detecting inconsistencies in the charges, fees and commissions against loans and services among the NBFIs, the BB official added.

Under the new provisions, the NBFIs will have to display the list of charges, fees and commissions against their leases and services in head offices as well as in the branch offices. Besides, the list of charges, fees and commissions will be published through their websites, according to the circular.

The NBFIs will not be able to charge more or less from their announced list of charges, fees and commissions, the BB officials added.

BBN/SI/AD-08Dec10-12:34 am (BST)