Scheduled Banks, NBFIs to remain closed during 14 to 21 April lockdown

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All banks except for those dealing with overseas trade and Non-Bank Financial Institutions (NBFIs) will remain closed during the seven-day strict lockdown to be enforced from 14 April in a bid to control the second wave of coronavirus infections in the country.

Bangladesh Bank (BB) took the decision at a meeting today (12 April 2021) and published DOS Circular Letter Number-13 in the evening carrying detailing the directions.

During this period, alongside the branches of all banks, all the sub-branches providing financial services, booth banking, agent banking services will also be closed.

However, Bank branches will remain open from 10 am to 3 pm on 13 April to give people more time to settle transactions before the beginning of a seven-day countrywide restriction on movement from 14 April. The central bank took the decision today to extend the banking hour by two hours, which was supposed to end at 1 pm amid lockdown.

“The banking watchdog will issue a notice tomorrow such that clients can settle transactions during the period,” said Md Anwarul Islam, a general manager of Bangladesh Bank.

The BB has revised the timeframe as a large number of clients rushed to branches in the last couple of days and it has predicted that banks will face huge cash withdrawals tomorrow. Branches will remain open till 5 pm on April 13 so that bankers can complete their relevant works after the transaction period, Islam said.

 

From 14 to 21 April, all online services including ATM and internet banking will remain open all the time. Besides, some authorized dealer branches in selective areas and branches in port areas will remain open, the official added. In another circular– PSD Circular Number-05/2021 it has been stated today that, the withdrawal amount from ATM has been raised to Taka 1 lac for this period of time.

 

Meanwhile, Bangladesh Bank also has extended the time duration of the first round (1st year) application submission under government’s announced CMSME Stimulus package of Taka 20,000 crore till 30 June 2021 through a circular– SMESPD Circular Letter Number-03 published today.

 

 

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