Don’t withdraw money from banks unless necessary: BB spokesperson
Bangladesh Bank Executive Director and Spokesperson Husnay Ara Shikha has requested depositors to avoid withdrawing money from banks unless absolutely necessary, assuring them that their funds are safe.
No bank in the world would be able to provide funds if all depositors tried to withdraw their money at once, she said in a press conference today on the current scenario in the banking sector.
For all latest news, follow The Daily Star's Google News channel. Some banks are failing to repay depositors due to the withdrawal rush, Shikha said.
"Don't panic about the deposited money. Everyone will get their money back."
Shikha made the comments at a press conference held at the Bangladesh Bank headquarters in Dhaka today.
The banking regulator is extending liquidity support to some restructured banks, the central bank spokesperson said.
The board of directors of 11 banks – majority controlled by the controversial S Alam Group -- were reconstituted since the installation of the interim government in August this year.
Half of them are now struggling to repay depositors as the central bank has suspended providing liquidity support by printing money.
Three task forces were formed a month ago for banking sector reforms, Shikha said.
One of the task forces is working on banking reforms, another on increasing the efficiency of the banking sector workforce, and the third on recovering laundered money, she said.
Lawyers and consultants from different countries are being recruited in the task forces, she added.
Bangladesh saw a fall in inflation in this year's September, when it came down to 9.92 percent from August's 10.49 percent, according to data released by the Bangladesh Bureau of Statistics.
The BB executive director said inflation fell in the country thanks to the increase in the policy rate by the banking watchdog.
The policy rate, which now hovers around 10 percent, has been increased thrice since the beginning of the interim government's tenure, she said.
Inflation may come down to around 6 percent if the downward trend continues for the next six months, the BB spokesperson said.
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