BB extends Tk 22,500cr liquidity support to several banks

Bangladesh Bank (BB) Governor Dr Ahsan H Mansur on Thursday said the central bank has extended Tk 22,500 crore as liquidity support to several crisis-hit banks.

“We are providing liquidity support to address the temporary cash shortages in banks, enabling customers to withdraw the required funds. We injected money to weak banks for a short time and a plan is there to adjust the money by withdrawing the excess fund from the banking sector through Bangladesh Bank bills," he said.

The governor said this while speaking at a press conference at BB headquarters in Dhaka. 

Mansur said the banking regulator is now helping those banks with liquidity support so that the depositors can get their money back.

Ahsan H Mansur, however, said all money deposited in banks is totally safe and there is no reason to be panicked or to go for unnecessary withdrawals.

“Depositors' money in banks is safe. Whatever bank you keep your money in, it will be safe, there will be no problem. Withdraw as much money as you need. There is no problem with the depositors' money. This is our headache,” he added. 

Mansur informed that the central bank will maintain a tight monetary policy stance like before. 

“We will not destabilise the market. The additional liquidity introduced into the market would be managed through various types of bonds to prevent inflationary pressures,” he added. 

Source: BSS