Rumour over liquidity in banking sector

Restore depositors’ confidence

Published : 06 Dec 2022 07:17 PM

A vested quarter is now misleading the country’s people through spreading rumour and fake news about liquidity in banking sector in order to shake the depositors’ confidence. This quarter led by the BNP-Jamaat clique is deliberately and constantly telling that the depositors would not get back their money due to the lack of liquidity in the banking system.

Besides, different elements staying at home and abroad are also uploading fake and fabricated news about liquidity in the banking sector on their facebook and other social media like youtube in a bid to make the depositors more confused.  They are also telling that clients are facing serious difficulties while withdrawing cash from banks. But the country’s banking sector assured the depositors confirming that it has Tk. 160,000 crore (1.6 trillion) of liquidity. 

Many depositors especially Bangladeshi expatriates living in different foreign countries have felt insecure about their money kept in different government and non-government banks and started withdrawing their money from banks. Therefore, it is very clear that the evil forces have particularly targeted at the Bangladeshi expatriate.

If Bangladeshi expatriates are convinced by the falsehood about liquidity in banking sector, they will be refraining from remitting their savings to Bangladesh through legal banking channels.

The central bank has instructed

 all commercial banks to take all

 measures to restore depositors’ 

confidence as early as possible

In line with a blueprint provided by BNP-Jamaat clique the vested quarters are out there to stage various types of incidents alongside spreading propaganda in the country to tarnish the government’s image before the world. But Prime Minister Sheikh Hasina is frequently urging the countrymen not to pay heed to any propaganda over foreign reserve and bank liquidity as Bangladesh is economically stable despite many developed countries face economic crisis for the Covid-19 pandemic and Russia-Ukraine war.

The Association of Bankers, Bangladesh (ABB) has also ruled out “fake news” about the lack of liquidity in the banking system as there is enough liquidity in banks. Apart from these, the Bangladesh Bank, the central bank of the country has also made it clear that banks have sufficient liquidity to support the needs of their different customer segments.

All banks in the country’s banking sector operate under the liquidity regulations and strict supervision of central bank. The central bank has instructed all commercial banks to take all measures to restore depositors’ confidence as early as possible.

But, it is very unfortunate that such fabricated news is being spread continuously at a time when the central bank and the banking sector are working hard to stabilise the country’s economy. We strongly condemn such rumours that shake the depositors’ confidence and make the banking sector volatile.