Central bank prints Tk22,500cr to support weak banks

NN Online:

Bangladesh Bank (BB) Governor Dr Ahsan H Mansur on Thursday said the central bank has printed an additional Tk 22,500 crore to support six weak banks.

“Stronger banks are lending to support banks that are facing liquidity crises. Additionally, the central bank has provided liquidity assistance of Tk 22,500 crore to six struggling banks by printing new money. This assistance was extended after temporarily suspending the decision to refrain from printing currency,” He made this disclosure in a press conference on Thursday.

Assuring this approach will not cause market instability, he said, “The funds will be withdrawn through the issuance of bonds. We will maintain a firm policy. What we give with one hand, we will take back with the other.”

The governor assured that customers’ deposits in banks are fully secure, stating, “Everyone will get their money back.”

He emphasised that Bangladesh Bank will support any bank facing a liquidity crisis. He also noted that starting from December 1, customers will notice significant changes in banking operations.