The Association of Bankers, Bangladesh (ABB) has ruled out rumours about a liquidity crisis in the banking system of Bangladesh.
"It is most disappointing to see different posts on social media about a so-called liquidity crisis in the banking sector and about customers facing difficulties in withdrawing cash from banks," said ABB Chairman Selim RF Hussain said on Sunday, according to BSS.
“These unfounded comments appear to be particularly targeted at the Bangladeshi expatriate diaspora to discourage them from remitting their savings to Bangladesh through legal banking channels," the ABB chairman said
In a statement issued on Sunday, Hussain condemned such rumours and termed the social media posts as fake.
On last November 15, the ABB chairman told The Financial Express, “There is a vested quarter that spreads the negative news of local currency shortfall only to put the economy into trouble through creating panic among the people.”
"It's completely false rumour--there is no ground for anybody to be scared about Bangladeshi banks being unable to meet their obligation, particularly local-currency obligation,” Hussain, also Managing Director (MD) and Chief Executive Officer (CEO) of the BRAC Bank Limited, told FE.
In the latest statement, Selim RF Hussain said all banks in the Bangladesh Banking Sector operate under the liquidity regulations and strict supervision of Bangladesh Bank.
"We would like to draw the attention of our respected customers to the recent Bangladesh Bank communication - confirming that Banking Sector has Tk 160,000 crore (Tk 1.6 trillion) of liquidity. The Bangladesh Bank has made it clear that banks have sufficient liquidity to support the needs of their different customer segments," he added.
He said it is unfortunate that fake news about the liquidity is being spread at a time when the central bank and the banking sector are working to stabilize the economy and revitalize economic growth.
"We encourage our respected account holders and the general public to avoid being misled by such fake news and to continue to show faith in scheduled banks. Let us not forget that the banking sector has contributed strongly to the economic development of our country over the last fifty years,” the ABB chairman said.
“We are confident that contribution, under the guidance and supervision of the Bangladesh Bank, will continue in the future," he added.