Cash withdrawals restricted to 2L per account this week

Cash withdrawals restricted to 2L per account this week

The Bangladesh Bank has instructed commercial banks, to limit cash withdrawals to a maximum of Tk2 lakh per customer this week. 

This decision was communicated to the managing directors of the banks through an emergency message.

The directive cites security concerns that are causing difficulties in transferring funds to branches, necessitating the restriction on withdrawals. 

The message also instructs banks to enhance the monitoring of cheque transactions and to halt any suspicious activities.

An official from Bangladesh Bank said that the interim government, led by Nobel laureate Professor Muhammad Yunus, has been sworn in. 

The decision to limit withdrawals is aimed at preventing the potential destabilization of the banking sector that could arise from large-scale cash withdrawals.