DHAKA, May 30, 2019 (BSS) – As the Eid-ul-Fitr, the largest festival of the Muslims, is knocking at the door, commercial banks are witnessing huge rush of clients withdrawing cash to meet their Eid expenses.
In the last two or three working days, the banks in the metropolis were packed with clients and most of them withdrew money, including remittances.
While visiting different bank branches in the capital today, it was found that officials-employees were facing difficulty in handling their clients waiting in long queues before the cash counters. People were seen standing in queues for more than half an hour for cash withdrawal.
Talking to BSS, Head of the Premier Bank Limited Dilkusha Branch Abdul Baten Chowdhury said his branch was packed with customers who were there to complete necessary transactions ahead of the Eid-ul-Fitr.
“There were huge transactions, especially by individuals, in the branch over the last four to five days. A large number of clients queued in the cash transaction section today and over Taka 150 crore, including remittance, was transacted,” he added.
Baten said the management of the Premier Bank took all sorts of measures, including keeping sufficient money, to tackle the crowd before the Eid and the bank did not face any difficulties.
“I have been standing in the queue for about half an hour to complete my transaction,” said Rasheduzzaman, whose brother sent him money from Spain. He was withdrawing the money from the Dutch Bangla Bank Dilkusha Branch.
Similar rush was also seen in almost all the bank branches at Motijheel and Dilkusha areas today.
Talking to BSS, Bangladesh Bank (BB) Chief Spokesperson M Serajul Islam said the flow of remittances into the country is showing an upward trend as the central bank is taking all sorts of measures to streamline the legal channel for encouraging Non Resident Bangladeshis (NRBs).
“Expatriate Bangladeshis sent US$ 1,350.57 million remittances during the first 24 days of the current month of May,” he said.
He said BB has increased the ceiling of mobile banking transactions for expediting the country’s financial activities.
“We have increased the ceiling a few days ago. The initiative is likely to increase the flow of remittance,” he added.
According to a BB’s recent circular, for cash in, a person can give Taka 30,000 maximum each day from now on and the transaction will be five times every day while the limit was Taka 15,000 per day and two transactions were permitted a day.
Per month, a person can give maximum Taka 2 lakh at a maximum delivery of 25 times. Previously, the cash-in amount was set at maximum Taka 1 lakh per month, the circular added.
For cash-out, one person can withdraw maximum Taka 25,000 per day at maximum five times daily. The maximum withdrawal per month is Taka 1.50 lakh in 10 takes.
Previously, the cash-out limit from agent was Taka 10,000 twice daily and Taka 50 thousand per month at a maximum of 10 takes.