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No liquidity crunch in banks: BAB


Published : 29 Nov 2022 11:36 AM | Updated : 29 Nov 2022 03:44 PM

Bangladesh Association of Banks (BAB), an organization of entrepreneurs and directors of private banks, in a statement has said that there is no liquidity crisis in the banks at present.

In a statement issued on Monday, BAB said that there is a negative campaign going on over liquidity crunch in the banking sector. But this is not true; liquidity in the banks is stable, it said.

Chairman of BAB and Exim Bank, Nazrul Islam Majumder, signed the notification.

There is a liquidity of Tk 1.70 lakh crore remaining in the banking sector at present, which is more than the requirement, he said. BAB issued the statement after discussing the current situation of the banking sector in a meeting.

The Bangladesh Bank said on 13th November said that People's deposits are safe in banks across the country.

"There is no liquidity crisis in banks," the Bangladesh Bank said in an urgent press release.

The central bank said conspiratorial information was being disseminated on various social media provoking people to withdraw their deposits from banks.

Cautioning people against such misinformation, the Bangladesh Bank assured that the country's banking system is in a robust state.

The central bank also pointed out that in 51 years since Bangladesh's independence, there has been no such incident of bank closure, expressing hope that such a crisis will not arise in the future.

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