Ahead of this year’s holy Eid-ul-Azha, the government has organized 4,407 sacrificial animal markets across the country. Of them, 22 markets have been leased to the two city corporations of Dhaka, comprising both permanent and temporary setups.
Every year, hundreds of thousands of taka are traded in these markets, but a significant concern arises from the activity of counterfeit money dealers during Eid. Additionally, there are frequent reports of traders being victim of fraud.
To combat these issues, the two city corporations of Dhaka and Bangladesh Bank have established counterfeit note detection and cashless transaction booths in various markets.
These booths offer free services for detecting fake notes, counting money, and facilitating online transactions. Law enforcement booths in each market are also equipped with fake note detection devices to prevent fraud.
The official buying and selling of sacrificial animals started on Thursday, although some markets in Dhaka had already begun operations by Wednesday ahead of Eid.
Sacrificial animal sale begins in 20 Dhaka cattle marketsTemporary digital services booths of various banks have been set up in each market, featuring multiple machines for detecting fake notes and counting money.
These booths facilitate secure money transactions, significantly reducing the risk of fraud.
Additionally, they support cashless transactions through mobile banking and various banks, alleviating the hassle of handling cash and the risk of counterfeit notes.
Traders still prefer cash
While buyers appreciate the convenience and security of cashless transactions, sellers have mixed reactions.
Many traders prefer cash transactions to avoid additional fees associated with bank transactions.
Asaduzzaman, a buyer at the Dhaka Polytechnic Institute area haat, stated that the digital service booths are very helpful in preventing fake money issues.
He also mentioned that carrying large sums of money to the market poses a security risk, making digital transactions a beneficial alternative.
Ahad Ali, a trader who came from Jamalpur with 18 sacrificial animals, said: “It is great that there is a fake note detection machine. But we have no problem with cash. If we take money through bank, then we will have to pay fees. We don’t need that.”
Booth officials said that buyers and sellers could open bank accounts at these booths in addition to utilizing fake note detection and money counting services.
Mithila, in charge of the IFIC Digital Hut-24 booth at the Dhaka Polytechnic Institute area haat, said: “We are providing fake note detection and money counting services at out booth. Additionally, we are providing various banking services including money transfers, instant account opening, and cash deposits and withdrawals. So that we can safeguard buyers and sellers from fraud.”
Saiful Rahman, a member of the haat management committee, said that IFIC and police have set up booths to detect counterfeit money.
He assured traders that money should be verified at these booths before proceeding to the Hasil counter. Cashless transactions are also available through various banks in the market, Saiful added.
Tight security
Similar arrangements are seen in Dhaka’s largest animal market in Gabtoli, where booths of various banks and mobile banking services, including bKash, Nagad, and Rocket, have been established.
Temporary police and RAB booths provide security and counterfeit note detection services.
Dhaka Metropolitan Police (DMP) Additional Commissioner (Crime and Operations) Dr Kh Mahid Uddin said: “Security at cattle markets is monitored through watch towers and drones, with a significant number of law enforcement personnel deployed to ensure safety. Multiple detection machines at police booths are available to detect fake notes, and plainclothes policemen are present to prevent fraud.”
Which cattle market in Dhaka is selling goats only?Meanwhile, Bangladesh Bank has instructed all scheduled banks to set up booths in every market to detect counterfeit notes and facilitate cashless transactions.
According to a notification on Tuesday, these services must be provided free of charge at authorized sacrificial animal markets across the country to curb the circulation of fake notes. The notification also emphasized the availability of note counting machines at these booths.
Notably, customers can buy sacrificial animals without cash at six DNCC sacrificial animal markets.
These temporary markets are located in vacant lots adjacent to Uttara Diabari Sector 16 and 18, Dhaka Polytechnic Institute, Mirpur Section-6, Bhatara Sutivola Canal-adjacent space, Mirpur Gabtoli, and Mohammadpur Bosila 40ft road-adjacent space.
Several banks, including Brac Bank, Bank Asia, City Bank, Islami Bank, AB Bank, IFIC Bank, and Pubali Bank, along with Mastercard, Amex, Visa, bKash, and Nagad, are involved in providing these digital services.
