Desk Report:

The Association of Bankers, Bangladesh (ABB) has dismissed rumours about liquidity crisis in the banking sector of the country.

“It is most disappointing to see different posts on social media about a so-called lack of taka liquidity in the Bangladesh banking sector and about customers facing difficulty withdrawing cash from banks,” reads a press release issued by ABB on Sunday.

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, it said.

The Association of Bankers Bangladesh (ABB) categorically condemns such rumours.

“All banks in the Bangladesh banking sector operate under the liquidity regulations and strict supervision of the central bank. We would like to draw the attention of our respected customers to the recent Bangladesh Bank communication –  confirming that Banking Sector has Tk160,000 crore of liquidity,” the media release said.

The Bangladesh Bank has made it clear that banks have sufficient liquidity to support the needs of their different customer segments.

It is unfortunate that fake news about a liquidity crunch is being spread at a time when the central bank and the banking sector are working to stabilise the economy and re-vitalise economic growth, it added.

“We encourage our respected account holders and the general public to avoid being mis-led by such ‘fake news’ and to continue to show faith in scheduled banks.”