Bangladesh Bank raises cash withdrawal limit to Tk 500,000 this week

The Bangladesh Bank has raised the maximum cash withdrawal limit from a single account to Tk 500,000 for the current week. The clients were allowed to withdraw up to Tk 400,000 in the previous week due to security concerns. 

The banking sector regulator 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 carrying cash to branches, the clients should not be allowed to withdraw more than Tk 500,000 from a single account this week. 

Also, monitoring activities should be strengthened on transactions, and any suspicious transactions should be stopped, it added.

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

An official of Bangladesh Bank said if any institutions need to withdraw a large sum of cash for payment of salaries, they can avail their required money by contacting the banks concerned as well as the central bank.  

The cash withdrawal limit has been being raised gradually since the assumption of the interim government on 8 August. In addition to security concerns, there are apprehensions that the vested quarters might attempt to destabilise the situation by withdrawing large amounts of cash.