Banks Experience Additional Pressure

Photo: Collected

Photo: Collected

Banks are experiencing additional pressure in paying clients as depositors are rushing to withdraw money more than any normal time apparently out of fear of any lockdown due to the coronavirus outbreak.

''We had to pay almost double to clients on Thursday compared to previous days,'' said Nizamuddin, assistant general manager (AGM) and in-charge of the Jatiya Press Club branch of state-owned Agrani Bank Ltd.

He said they faced similar pressure on Sunday, the first working day of the week.

Another official of the branch located adjacent to Bangladesh Secretarial said they normally release about Tk 2.5 crore every day. 

But the branch had to pay about Tk 5 crore each on Thursday and Sunday, he added.          

The same experience is shared by Maksud Hossain, AGM of Janata Bank at the Bidyut Bhaban branch on Abdul Gani Road.

He said many people have been withdrawing additional money from Thursday last.   

Maksud said his branch has arranged hand sanitizer, masks, and gloves for the bank staff as per instructions of Bangladesh Bank. 

Officials of other banks in Motijheel, the commercial hub of the country, shared the same experience, saying people are withdrawing additional money more than the normal period.

They, however, said though people are withdrawing money from banks, there is no liquidity crisis as the central bank has made adequate funds to meet the growing demand. 

An official of City Bank, a leading private bank, said they have been following the Bangladesh Bank’s instructions to maintain safety and hygiene in dealing with clients. 

About the pressure of money withdrawal, he said their bank is also facing the same.

Source: UNB

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