The Bangladesh Bank today ordered commercial banks to disallow cash withdrawals of more than Tk 3 lakh per account, up from the previous limit of Tk 2 lakh.

A senior central bank official said security concerns have been gradually easing, which is why the withdrawal limit was relaxed.

It also instructed banks to monitor transactions through cheques and block any suspicious transfer of funds.

"Due to security problems in transporting cash to bank branches, please do not allow withdrawals more than Tk 3 lakh in cash during the upcoming week," the Bangladesh Bank informed banks through an SMS.