No harm to depositors regardless of banks’ condition: Governor

Bangladesh Bank Governor Dr Ahsan H Mansur has reassured depositors that their savings are secure, even as several banks face financial difficulties. 

Speaking at a press conference on Sunday (September 8), the governor acknowledged that around 10 banks in the country are facing severe challenges, but emphasised that customer confidence needs to be restored, ensuring protection for 95 percent of depositors.

"Whatever the condition of the banking sector, there will be no harm to customers," said Dr Mansur. 

He highlighted that the deposit insurance limit has been raised from Tk 1 lakh to Tk 2 lakh, ensuring that the vast majority of depositors are safeguarded. "No country guarantees 100% protection for bank deposits, but we are guaranteeing 95%."

The governor also mentioned that Bangladesh Bank has a reserve fund of Tk 25,000 crore, which is yet to be fully disbursed. He added that banks have been asked to submit written requests for these funds, which will primarily be allocated to support the SME sector.

He clarified that no accounts of major business groups like Beximco or S Alam have been frozen and assured that their operations will continue without disruption.