Withdrawal from banks limited to Tk 100,000 for today

The interim government headed by Nobel Peace Prize winner Dr Muhammad Yunus will be sworn in today. So, a limit has been set for withdrawal of money from the banks today for security reasons. Not more than Tk 100,000 cash can be withdrawn from one account. This decision is applicable only for today.

The Bangladesh Bank in an urgent message gave this directive to the managing directors or MDs of the banks on Wednesday night. According to the directive, though a customer cannot withdraw it in cash, any amount of money can be transferred or transacted digitally.

Reportedly, the pressure of cash withdrawal increases after a change of government. Especially, there’s pressure of pro-Awami League politicians and business families withdrawing cash.

The Bangladesh Bank took the decision of somewhat discouraging the withdrawal of cash so that this money cannot in any way be used in criminal or illegal purposes. In continuity of that, Bangladesh Bank announced this decision on Wednesday night.

Besides, the central bank has given direction to suspend transfer of cash from main branch to other branches for today. And, it has been advised to encourage customers to pay by cheque.

A Bangladesh Bank official said, there’s no government in the country and a new government is being formed today. This decision has been taken so that no one can create an unstable environment by withdrawing cash at this moment.  

A managing director of a bank from the private sector without wanting to disclose their name told Prothom Alo that this decision should have been taken sooner. Already a pressure has been created on cash money. The pressure might be released at least a little with this.