Halted observe 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 business banks in latest weeks. This has damaged an extended custom of issuing recent notes forward of holidays and main transactions.
“Notes of varied denominations are printed utilizing paper and ink bought with folks’s taxes. Thousands and thousands of notes with Bangabandhu’s image are nonetheless mendacity within the vaults of varied banks. The Safety Printing Company doesn’t have the capability to cancel all of the notes directly and print new ones. Subsequently, notes with Bangabandhu’s image can’t be all of the sudden cancelled,” mentioned Ziauddin Ahmed, former government director of Bangladesh Financial institution and former managing director of the Safety Printing Company.
Soiled, torn notes nonetheless in circulation
The transfer has precipitated a visual pressure on every day money transactions. Outlets, banks, and prospects are reporting problem dealing with outdated, torn, and worn-out notes, as no replacements are being issued.
Ziauddin Ahmed advisable a phased method to resolve the issue.
“When new design notes come into the market, the outdated ones ought to be progressively withdrawn. Typically, notes printed as soon as can be utilized for a most of 4 to 5 years,” he mentioned.
New design notes anticipated quickly
In accordance with sources at Bangladesh Financial institution, the Safety Printing Company is scheduled to start printing new design notes beginning subsequent month. Within the first part, notes of Taka 20, 50, and 1,000 can be launched into circulation by banks.
The scarcity of recent notes first surfaced after political adjustments in August final 12 months. Since then, Bangladesh Financial institution has withheld all foreign money — together with cash — that includes Sheikh Mujibur Rahman’s picture.
