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People's deposits are safe in banks: BB

Staff Correspondent
13 Nov 2022 21:40:32 | Update: 13 Nov 2022 21:43:43
People's deposits are safe in banks: BB

The Bangladesh Bank has assured that the depositors’ money in the banking system is completely safe, and the country’s banking sector is in a strong state.

The assurance came in a press release signed by Saeda Khanam, director and assistant spokesperson of Bangladesh Bank, on Sunday.

“Unsubstantiated conspiracy theories are being circulated on various social media platforms, inciting people to withdraw their deposits from banks,” it said.

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Under the circumstances, the central bank informed that the banking system is strong enough and there is no liquidity crisis.

The notice stated that no bank was shut down since the country’s independence and hopefully no bank will be closed in the coming days.

According to Bangladesh Bank data, total deposits in the banking sector was Tk 14,82,829 crore as of September this year.

Meanwhile, excess liquidity in the banking sector was Tk 1,70,497 crore in the scheduled banks during the same period, compared to Tk 2,19,681 crore year-on-year.