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Verify news, info about banking sector

Cabinet asks authorities

Published : 29 Nov 2022 12:07 PM | Updated : 29 Nov 2022 02:21 PM

The Cabinet on Monday directed the authorities concerned to verify the accuracy of the videos and news seen on social media and newspapers about the current situation in the banking sector.

The direction came at the Cabinet meeting with Prime Minister Sheikh Hasina in the chair at the PMO, said Cabinet Secretary KhandkerAnwarul Islam, while briefing the media at the Secretariat.  

The Cabinet Secretary said different types of videos are being viewed on social media about the current situation of the banking sector.

"An explanation has been sought from the authorities concerned to verify the accuracy of these videos", he added.

Meanwhile, after the secretary's meeting on Sunday, the cabinet secretary told reporters that there was an indirect discussion about this and instructions were given to the banking and finance division to expose the real scenario, added KhandkerAnwarul Islam.

Bangladesh Bank on 14 November said that Banks have excess liquidity of Tk 1.69 trillion, and rumours on social media are unfounded.

Bangladesh Bank spokesperson Md. Abul Kalm Azad said this while addressing a press conference at the central bank to brief reporters on misinformation circulating in social media regarding bank deposits and liquidity, reports UNB.Ads by 

“Conspiratorial news is being circulated on social media. Investors are being asked to withdraw their bank deposits. It is being said that banks do not have cash or that there’s aiquidity crisis,” he said.

“But this is not true. The banking system of Bangladesh is very sound. There is no liquidity crisis as the banking system currently has excess liquidity of Tk 1.69 trillion,” Azad said at the press conference.

Bangladesh Bank as issued a special warning to managing directors of commercial banks regarding the liquidity situation. If there is any disruption in the liquidity management of a bank, the central bank will take steps to resolve it with utmost importance.

No bank has shut down in 51 years of Bangladesh's history, he pointed out.

“People's deposits in banks are completely safe. Nothing has happened to cause panic over people’s hard-earned savings in banks,” Azad assured. 

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