Eid Market Monitoring: Bangladesh Bank Mandates Fake Note Detection Booths
Ahead of the upcoming Eid-ul-Adha, Bangladesh Bank has instructed the installation of counterfeit currency detection booths at cattle markets. In a circular issued on Sunday, 10 May, commercial banks have been directed to appoint one coordinating officer each and submit their details to the central bank by 17 May. The circular requires banks to send the officer’s name, designation, and mobile number via email.
According to the directive, uninterrupted counterfeit note verification services must be maintained at cattle markets approved by Dhaka North City Corporation and Dhaka South City Corporation until the night before Eid. Outside Dhaka, the responsibility for managing specific markets will be determined by the respective offices of Bangladesh Bank. In districts where the central bank has no branch, Sonali Bank will allocate responsibilities.
The circular also specifies the list of banks assigned to operate booths at various cattle markets in the capital. Government and private banks will manage booths in areas including Gabtoli, Mirpur, Kalshi, Uttara, Khilkhet, Mohakhali, Sarulia, Postogola, and Khilgaon.
The central bank has stated that, to ensure smooth financial transactions, banks must coordinate with city corporations, district administrations, and law enforcement agencies. Additionally, instructions have been issued to take legal action against those involved if counterfeit notes are detected.
DBTech/SA/EK/OR
