New banknotes not to be released before Eid because of Sheikh Mujib’s photo

No new currency notes will be released before the coming Eid-ul-Fitr as the central bank has advised the banks through letters to stop exchanging new notes with the worn out banknotes and stop releasing new notes from their stock.

Objections have been raised from various sides as the current banknotes contain photos of Sheikh Mujibur Rahman, several relevant sources told Prothom Alo.

However, the denomination notes currently in use will continue to be used.

Meanwhile, the central bank, Bangladesh Bank, has been trying hard to introduce banknotes with new designs by next month.

Earlier, the central bank in a notification said that new banknotes will be released from 19 March until 25 March, marking the Eid-ul-Fitr, with the denomination being Tk 5, Tk 20 and Tk 50.

Bangladesh Bank spokesperson Arif Hossain Khan told Prothom Alo that no new banknotes will be exchanged before this Eid-ul-Fitr but the new notes will continue to be used.

It has been learned that the photo of the bust of Sheikh Mujibur Rahman will be replaced by graffiti of the July uprising and other establishments in the designs of new banknotes, which are likely to hit the market in April-May.

Speaking to Prothom Alo, an official involved with minting said as many as 190 countries buy the papers for banknotes from just 8-10 companies. As a result, new notes cannot be printed suddenly by changing the design.

According to the official, everything including ink and dice are imported from abroad. As a result, it needs two years to introduce new currency notes by changing the design.

But initiatives have been taken to bring new banknotes due to the changed circumstances, with focus on security and quality of notes, the official added.