Halted word circulation leaves banks and public struggling
Officers from Bangladesh Financial institution, talking on situation of anonymity, confirmed that no new notes have been equipped to industrial banks in latest weeks. This has damaged an extended custom of issuing recent notes forward of holidays and main transactions.
“Notes of assorted denominations are printed utilizing paper and ink bought with individuals’s taxes. Thousands and thousands of notes with Bangabandhu’s image are nonetheless mendacity within the vaults of assorted banks. The Safety Printing Company doesn’t have the capability to cancel all of the notes directly and print new ones. Due to this fact, notes with Bangabandhu’s image can’t be out of the blue cancelled,” stated Ziauddin Ahmed, former govt director of Bangladesh Financial institution and former managing director of the Safety Printing Company.
Soiled, torn notes nonetheless in circulation
The transfer has triggered a visual pressure on each day money transactions. Outlets, banks, and prospects are reporting issue dealing with previous, torn, and worn-out notes, as no replacements are being issued.
Ziauddin Ahmed advisable a phased method to unravel the issue.
“When new design notes come into the market, the previous ones needs to be steadily withdrawn. Usually, notes printed as soon as can be utilized for a most of 4 to 5 years,” he stated.
New design notes anticipated quickly
Based on sources at Bangladesh Financial institution, the Safety Printing Company is scheduled to start printing new design notes beginning subsequent month. Within the first section, notes of Taka 20, 50, and 1,000 can be launched into circulation by banks.
The scarcity of recent notes first surfaced after political modifications in August final 12 months. Since then, Bangladesh Financial institution has withheld all forex — together with cash — that includes Sheikh Mujibur Rahman’s picture.
