Banks asked to set up booths in cattle markets to detect fake notes

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Offline hassan

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The circular said the banks must coordinate with the branches of the central bank outside Dhaka to set up the booths


The Bangladesh Bank on Wednesday asked scheduled banks to set up booths in the cattle markets ahead of Eid-ul-Azha to detect fake or forged notes considering the huge cash transaction.

In a circular, the Bangladesh Bank asked the commercial banks to assign dedicated officers in this regard by August 8.

The circular said the banks must coordinate with the branches of the central bank outside Dhaka to set up the booths.

In absence of any central bank branch, the banks were instructed to conduct the operation through Sonali Bank, the order said.

The central bank also said the banks would have to contact with the local authorities including city corporation, district offices, municipalities and the law enforcing agencies to ensure smooth transaction.

The bank booths must feature the identification marks of the fake notes of taka 100, taka 500, and taka 1000 denominations.

According to BB rules, if any fake notes are found, people circulating such notes should be handed over to police.

However, if the bank finds that the people in question were unaware about such misconduct and presented the note in a good faith, the bank would take detailed information about them and deposit the fake notes to the police, the circular added.

Md. Arif Hassan
Assistant Professor
Department of Business Administration
Faculty of Business and Economics
Daffodil International University

Offline Farhananoor

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Re: Banks asked to set up booths in cattle markets to detect fake notes
« Reply #1 on: February 26, 2020, 06:03:59 PM »
Beautiful.

Offline Farhananoor

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Re: Banks asked to set up booths in cattle markets to detect fake notes
« Reply #2 on: February 26, 2020, 06:07:33 PM »
Good Post.

Offline shahanasumi35

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Re: Banks asked to set up booths in cattle markets to detect fake notes
« Reply #3 on: February 26, 2020, 06:11:58 PM »
Informative post.Thanks for sharing.

Shahana Kabir
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Offline Shahnoor Rahman

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Re: Banks asked to set up booths in cattle markets to detect fake notes
« Reply #4 on: February 26, 2020, 06:21:16 PM »
Thanks for Sharing.  :) :)

Shah-Noor Rahman
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Business Administration