Bangladesh Bank (BB) has reassured the public, stating that there is no liquidity crisis in the banking sector and that depositors' funds remain safe and secure.
At a press briefing on Wednesday at the central bank headquarters, Husneara Shikha, Executive Director and Spokesperson of Bangladesh Bank, acknowledged that although some branches have experienced challenges in meeting unexpected cash demands, the overall banking sector remains stable.
Bangladesh Bank facilitated a liquidity infusion of Tk 5,585 crore through a mechanism in which 10 financially robust banks lent funds to 7 weaker banks under a guarantee from the central bank, reports UNB.
The Bangladesh Bank spokesperson assured that all deposited funds are guaranteed and urged the public to remain calm, emphasizing that there is no reason to panic or make unnecessary withdrawals.
She noted that banks, including those with strong financial standings, cannot immediately return large sums of deposit money, as much of these funds are tied up in term loans and investments.
The Bangladesh Bank spokesperson encouraged depositors to withdraw funds gradually according to their needs, rather than reacting to unfounded fears.
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