Cash withdrawal limit at banks raised to Tk 300,000 this week

The authorities have raised the maximum cash withdrawal limit from a single account to Tk 300,000 for the current week. The clients were allowed to withdraw up to Tk 200,000 in the previous two weeks due to prevailing security concerns. 

The banking sector regulator, Bangladesh Bank, issued an instruction in this regard to the managing directors of the banks on Saturday. 

In its message, the central bank said as the banks are facing issues in transporting cash to branches, it will not be allowed to withdraw more than Tk 300,000 from a single account this week. Also, monitoring activities should be strengthened on transactions, and any suspicious transactions should be stopped.

However, there will be no limit for transferring money from one account to another and for digital transactions.

The interim government began its journey on 8 August, but the police are yet to resume their activities in full swing. This posed significant security concerns, particularly in transporting cash. Besides, there were apprehensions that the vested quarters might attempt to destabilise the situation by withdrawing large amounts of cash.

Against the backdrop, the maximum limit for cash withdrawal was Tk 200,000 in the previous two weeks. 

An official of Bangladesh Bank explained that the decision aims to foil any attempts to destabilise the situation as well as to address the security concerns. The limit will be lifted completely in a gradual process.