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BB asks money changers to use fake note detectors

Staff Correspondent
27 Sep 2021 20:04:22 | Update: 27 Sep 2021 20:04:22
BB asks money changers to use fake note detectors
Representational Photo.

The central bank has directed all authorized and licensed money changers in the country to install fake banknote detection machines to curb the activities of counterfeiters.

The Foreign Exchange Policy Department of Bangladesh Bank issued a notification and sent it to all authorized money changers on Monday.

The notification also asked money changers to download the central bank’s poster explaining security features of banknotes and put it on display at their shops.

Talking to The Business Post, a senior official of Bangladesh Bank said money changers have been asked to install at least one fake banknote detection machine to provide better service to the customers and prevent the circulation of counterfeit banknotes.

At present, 235 licenced money changers are operating in the country. Most of these institutions are in Dhaka, while the rest are in Chattogram, Sylhet, Khulna, Rajshahi, Rangpur, Bogura and Barishal.