Name of the Organization: Directorate National Savings (DNS)
Formation of Directorate National Savings (DNS) :
Department National Savings (DNS) was formed under the provision of Public Debt Act. 1944 when Bangladesh was under British rule . But functions of savings were in existence long before only in the form of Postal Ordinary Savings Bank (POBS) which dates back to 1880. After the birth of independent Bangladesh in 1971, the Martial Law Committee on Organizational Set Up in there report (Chapter 111 July 1982) formalized the Directorate National Savings . Primary objective’s of the DNS were only to motivate the people for investment in different savings instrument. But during the period of 1980’s , Government thought of assigning operative functions to the DNS and under a pilot project 7 special bureaus were created, five of which were in Capital Dhaka city , 1 was at Chittagong and the other was at Narayangonj. Thereafter during the period of 1980 to 1989, all distract level Savings Offices were also brought under operative functions. Regulatory Authority: Directorate National Savings (DNS) is an attached department of Internal Resources Division (IRD) which works under the control and supervision of the Ministry of Finance (MOF). As a government department all financial and administrative regulations apply to DNS. Although the Internal Resources Division and the Director is vested with reasonable authority, policy decisions regarding administration, procurement and setting of targets are taken at the MOF level Organizational Set up: The Director who is a Deputy Secretary level government officer heads this organization. Normally the director is posted on deputation from cadre officers of Bangladesh Civil Service.
The present organizational structure is given below:
A Category District, Officer - in-charge (Assistant Director –26)
Director: The Director is the chief executive of the organization. He is responsible for managing overall administration of this organization. He also exercises financial authority within the limits applicable to heads of government offices.
Additional Director: To assist the Director in all matters related to overall administration of the Directorate. Assistant Director (Admin.): To deal with cases relating to appointment, Promotion, and transfer of officers staff and all other administrative works.
Assistant Director (Policy): To deal policy formulation matters related with various Savings Schemes of the Government.
Assistant Director (Statistics): To prescribe annual investment target of Banks, Post Offices and Bureaus and to prepare monthly investment progress report for onward submission to the Ministry of Finance and other respective authorities.
Assistant Director (Cash and Bill): To prepare pay bills of staff and all other contingent bills of the Directorate.
Assistant Director (Budget and Accounts): To prepare annual budget and revise budget of the Head office of the Directorate and its field offices. Budget wing of DNS allocates budget to Head Office, District Offices, Special Bureaus and Regional offices.
Assistant Director (Bureau): To make arrangement for printing the scripts of all sorts of savings certificates, Bonds and other papers and brochures containing the information of savings schemes and distribute the same to Bangladesh Bank, Post Offices and the National Savings Offices.
Assistant Director (Public Relation): To make arrangement for release of advertisement on various National Saving Schemes through news papers and electronic medias.
Deputy directors: To take all possible measures for achieving the targets fixed for their respective division and to coordinate and supervise the administration of all the district level offices under their jurisdiction.
Assistant Directors/Officer in Charge of Bureaus: The main function of the Assistant Directors /OICs of bureaus is “to manage all affairs relating to the sale and encashment of savings instruments through their respective bureaus.“ The other functions are of managing the administration and controlling their own office.
Associate Agencies: Bangladesh Bank plays a vital role in implementing the functions of National Savings Schemes. It maintains the central accounts for national Savings Schemes on behalf of the government. Sale proceeds of all savings instruments are accumulated in Bangladesh Bank and the same is reimbursed at the time of encashment. BB has no direct involvement other than being responsible for ensuring that internal resources are mobilized by the DNS according to targets set. It performs only a monitoring function. 9,000 Branches of Post offices & 3,300 Branches of Commercial Banks function as a commission agents of DNS to sell savings instruments all over the country.Post offices deal with all types of Sanchayapatra and additionally they also deal with Ordinary savings Account, Fixed Deposits Accounts and postal Life Insurance. Commercial Banks sell all types of sanchayapatra, Wage Earner Development Bond, 3 years National Investment Bond, Prize Bonds, US Dollar Investment Bond and US Dollar Premium Bonds.
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