Don't all go to collect money at once, then no one will get it: Governor

Bangladesh Bank Governor Ahsan H. Mansoor has advised not to withdraw money from the bank together.

A press conference was called at the central bank on Wednesday. In response to a question there, the governor gave an advisory message to customers to be careful and patient.

Don't go to withdraw money all at once. Then no one will get money, he said.

Ahsan H. Mansoor said to the customers, 'I will tell the customers, be patient. Don't go to withdraw money all at once. Then no one can pay. Many have kept money in these banks for the sake of extra interest. Don't be impatient now. We don't want deposit money to be lost. We will not overprint any deposit. Because it will not be good for the nation. Then inflation will be 100 percent. If you don't raise the money, raise it. After five to six months the situation will change.

In response to another question, Governor Mansoor said that if all the customers go to withdraw money from the bank of any country in the world, then the bank will not be able to pay the money to the customers.

Advising the depositors to be patient in the current crisis, Ahsan Mansoor said, “We do not want the depositors to lose money.” You already know these weak banks; Still kept the money.

Expressing hope that the situation will gradually improve with patience, the governor said, “I will not say that we should have confidence in the banking sector right now.” Be patient whether you have confidence or not. Don't go to withdraw money together. Only withdraw what you don't withdraw. After six months or a year slowly see if it is normal or not. It will be fine slowly. Time should be given for that.

The governor also said that no depositor has lost money in Bangladesh so far. Banks should first be restored to good governance so that depositors have confidence. Initiatives have been taken for this.

Ahsan H. Mansoor said that steps have been taken to control inflation. The dollar rate is at a stable level. If it is at such a level, inflation will come down in the next six to seven months; Flooding is a bit of a worry though. It is also optimistic; It may take a month or two more.' He also said, 'Dollars are not being sold from the reserve now. So there is no possibility of reserve reduction. The reserve will increase further in the future. Government demand (dollars) is being met from the interbank market.

Regarding the reform of the banking sector, the governor said that it will be done by forming the Banking Commission. Bangladesh Bank will be associated there. It will be done within a month. Foreign experts will be taken. How Sri Lanka has reformed will also be seen. Stating that the procedure has not been fixed now, he said, the matter will be fixed in the future.

Regarding Islami Bank, the governor said, 'I have asked the new board of Islami Bank to give a work plan within a week. Here you have to work, there is no opportunity to sit. Bangladesh Bank will provide all kinds of support. If they do not play a supportive role, the board will be changed again. Everyone is being monitored. Irregularity will not exempt anyone.

Bangladesh /SBT