For this week, the maximum cash withdrawal limit per account has been increased by the authorities to Tk 300,000. Because of ongoing security concerns, clients were permitted to withdraw up to Tk 200,000 during the preceding two weeks.
The managing directors of the banks received a directive in this respect on Saturday from Bangladesh Bank, the regulatory body for the banking industry.
The central bank stated in a statement that withdrawals exceeding Tk 300,000 from a single account this week will not be permitted due to difficulties the banks are having getting cash to their branches. Additionally, transaction monitoring should be improved, and any questionable transactions should be halted.
Digital transactions and money transfers between accounts, however, will not be subject to limits.
The temporary administration took office on August 8th, although the police have not yet fully resumed their operations. This raised serious security issues, especially when moving currency. In addition, concerns existed that the interested parties might try to upset the balance by taking out substantial sums of money.
In light of this, the highest amount that may be taken out in cash during the preceding two weeks was Tk 200,000.
According to a Bangladesh Bank representative, the move is intended to both address security concerns and thwart any attempts to destabilize the situation. The cap will be gradually raised to its maximum.
