BB asks banks not to allow cash withdrawal over Tk1 lakh for today

The Bangladesh Bank (BB) has asked all the government and private banks of the country not to allow cash withdrawals over Tk1 lakh for today (8 August) only.

The cenbank gave the directive in an urgent message by its managing directors (MD) yesterday (7 August) night.

According to the directive, customers will be able to transfer and transact any amount digitally even if they can't withdraw money above the limit imposed by the financial regulator.

The directive was given as many checks without names started to arrive at banks. Besides, there has been a lack of security at banks and ATM booths due to the resignation and escape of former prime minister Sheikh Hasina.

According to sources, the pressure of cash withdrawal increased as many people belonging to the Awami League started to withdraw large amounts of cash from the banks out of insecurity.

The cenbank directive aims to prevent the misuse of the cash withdrawn by people, especially so that the money can't be used in financing terrorism or violence.

The cenbank has also decided not to transfer money to the branches of banks from their headquarters. Besides, it has urged the customers to pay their dues using cheques.

Contacted, a BB official said, "There is no government in the country right now and a new government is going to take oath today. We've issued the directive so that there is no misuse of money withdrawn from banks."

In the last two days only, the Islami Bank has refused unnamed cheques worth Tk848 crore from its various branches across the country.