Bangladesh Bank has ordered banks to remain open in a limited capacity on March 18 and 19 (Wednesday and Thursday) to keep transactions in the ready-made garment sector active despite the ongoing government holidays on the occasion of the upcoming Eid-ul-Fitr.
According to the government decision, March 18 is a holiday by executive order and the scheduled Eid holiday is starting from March 19.
However, the central bank has taken this special measure to ensure smooth payment of salaries, bonuses and other allowances to workers and employees working in the readymade garment industry and export bill purchase activities during this time.
According to the instructions issued by the Department of Off-Site Supervision of Bangladesh Bank on March 10, the branches of scheduled banks related to the RMG industry located in the country's important industrial areas - Dhaka Metropolitan City, Ashulia, Tongi, Gazipur, Savar, Bhaluka, Narayanganj and Chittagong - will remain open on these two days.
The branches concerned have also been instructed to ensure adequate security.
Transactions will continue from 10 am to 1 pm on these two days of the holiday.
Office activities will continue until 2 pm. There will be a break for Zuhr prayers from 1:15 pm to 1:30 pm.
In addition, the central bank has also ordered to pay allowances to officials and employees on duty on holidays as per the rules.
Banking sector stakeholders say that the pressure to pay salaries and bonuses in the garment sector increases ahead of Eid.
In this situation, this initiative to keep banks open on a limited scale will play an important role in ensuring timely payment of dues to workers.
