Intriguing news is being circulated on various social media calling investors to withdraw their bank deposits. It is said that the banks do not have cash or have a liquidity crisis. But this is not true. The banking system of Bangladesh is very ‘strong’. There is no liquidity crisis in the banking system. The banking system currently has excess liquidity of Tk. 1 lakh 69 thousand 586 crore.
Bangladesh Bank Executive Director and Spokesperson GM Abul Kalam Azad conveyed this matter in a press conference on Monday (November 14). Officials of the central bank were present in the press conference called on current issues.
He said that Bangladesh Bank has issued a special warning to all managing directors of commercial banks regarding the liquidity situation of the bank. If there is any disruption in the liquidity management of a bank, Bangladesh Bank will take steps to solve it with utmost importance.
Bangladesh Bank’s policy of ‘Repo and Assured Liquidity Support’ is always on for liquidity management. The inspection and supervision department of the bank is very active. In the 51 years of Bangladesh’s independence, no bank has ‘closed’. It is hoped that no bank in Bangladesh will be closed in the future. People’s deposits in banks are completely safe. Nothing has happened to panic people’s savings in banks.
Regarding the opening of LCs, the central bank spokesperson said, “We have come to know through the newspaper that the commercial LC opening is closed.” This is not correct. We have the information. It is seen that 1263 million dollars LC has opened up to 10th of November. This time last month it was 1232 million US dollars. In October of this year, LC opened at 4743 million dollars.
The central bank expects that the current dollar problem will return to balance in the supply and demand of the foreign exchange market by next January-February.
