• Wednesday, Aug 21, 2019
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Bangladesh Bank asks banks to be cautious about fake notes during Ramadan

  • Published at 09:30 pm May 13th, 2019
taka Mehedi Hasan/ Dhaka Tribune
Stacks of Bangladeshi takaMehedi Hasan/ Dhaka Tribune

The central bank issued a circular to the managing directors of all commercial banks in this regard

Bangladesh Bank on Sunday asked all commercial banks to remain alert so that forgers could not release counterfeit notes during the month of Ramadan cashing in on increased demand.

The central bank on the day issued a circular to the managing directors of all commercial banks in this regards, instructing the banks to take necessary measures to prevent the spread of fake notes.

A video clip containing security features of bank notes should be televised by banks for at least one hour after evening at major public places of  the capital,   divisional cities, and Bogra city during the entire Ramadan, the circular instructed further.

The BB advised banks to check notes before putting those in ATMs. At the same time, all bank branches were asked to display the security features of bank notes in their installed videos on their premises during banking hours.

The branches lacking video display were also asked to install them to televise the security content.

A central bank official said Bangladesh Bank feared forgers might try to release fake notes ahead of Eid-ul-Fitr as cash transactions would increase significantly during the festival. 

Banks were instructed to ensure the use of modern fake-note detecting machine at branch level, he added.