Bangladesh Bank lifts all cheque withdrawal limits
Staff Correspondent
Starting from Sunday, customers can withdraw any sum of cash from any bank via bearer’s cheques.
Bangladesh Bank restricted cheque cashing in recent weeks for security reasons, but the limit has been lifted this week.
Last week, the central bank raised the withdrawal limit by Tk 100,000 to Tk 500,000. Commercial banks had been asked to follow earlier guidelines due to 'security reasons.'
The decision was communicated to all commercial banks on Saturday.
This follows the interim government's directive for banking and financial sector reforms after the fall of the previous government on Aug 5.
The government is also monitoring the situation to prevent individuals, who made fortunes through corruption and market manipulation during the Awami League’s tenure, from transferring their assets out of the country.
The central bank has also advised banks to halt suspicious transactions.
Despite the cheque withdrawal limit, digital transactions remained unrestricted throughout, allowing any amount to be transferred electronically.
Bank officials reported an increase in withdrawals by politicians, businessmen, and officials after the change in power on Aug 5.
This prompted Bangladesh Bank’s Banking Regulation and Policy Department, or BRPD, to implement the latest controls.
The Bangladesh Financial Intelligence Unit, or BFIU, has instructed all commercial banks to exercise heightened vigilance over transactions involving political figures.
The BFIU issued this directive after a meeting with the chief anti-money laundering officers of various banks.
