He said exaggerated talking overs over foreign currency transaction, import and reserves are going on most of the times. Government has successfully handled the situation though the amount of its reserve was less than that of BB.
Former BB governor said, “We would overcome the situation very soon. Those who are spreading rumors are trying to undermine the image of the country. They need to understand that Bangladesh is not on weak base like Pakistan or Sri Lanka.”
He said, “Bangladesh’s economy is established on very strong base and its progression will keep going on. So, pressure is escalating on the weaker banks. However, the deposit crisis of the banks is entirely a rumor which is baseless.
PKSF president and economist Kazi Kholikuzzaman Ahmad said there’s no problem in any of the banks in Bangladesh, as well as the banking system has no crisis.
Kazi Khaliquzzaman Ahmad said, “I don’t think the banking sector is in crisis and what the Bangladesh Bank is saying is totally right. I’m connected to many offices and there’s no problem anywhere.”
PKSF president said, “Some trickster are spreading this kind of rumors aimlessly and many gullible people began to trust their fake news. So, it’s not right that the banks are in liquidity crisis. But, I wonder how the media revealed such news. It should never spread such things without sufficient scrutiny. ”
Renowned banker Md Nurul Amin said people have to keep trust on banks as they have no other alternative to keep their money safely. No need to be too much concerned.
Md Nurul Amin said, “The exchange rate in dollar market is little bit unstable now. Rate varies among export, remittance, money exchange and hundi. According to some people, instability in dollar and Taka is all the same. There’s nothing to be worried in overall situation and no depositor or citizen should be in panic.”
He said the banking system in the country has a long history. So, it won’t be changed drastically. All the deposit of a bank doesn’t belong to one of its branches. So, some customers may fail to withdraw their deposited amount. But, this type of incident doesn’t happen every day. It may also happen that many of the customers of a specified branch withdrawn huge amount of money and the bank needs some time to bring the money in from other bank.
Former banker Nurul Amin said more than 10,000 branches are active in the country. If all of these branches keep cashes all the time, then how they will provide loan? How much cash the branches will hold, depends on the directives of Bangladesh Bank and the head office of their own. So, they can’t keep more cash than their specified limit. However, if any branch fails to give cash doesn’t mean the bank is in liquidity crisis.
He said, “No rumor has been spread anymore after it occurred on last Sunday. That means everything’s all right. And what Bangladesh Bank said was their duty and they said it from their responsibility. People have to keep trust on banking sector and have to keep their head calm.”
@The report was published on print and online versions of The Bangladesh Pratidin on November 17 and rewritten in English by Lutful Hoque
