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Dhaka: National Bank Limited has started accepting applications from depositors seeking to withdraw their money, with the bank set to allow withdrawals according to customers’ needs from October 15.
Bangladesh Bank Executive Director and Spokesperson Arif Hossain Khan confirmed the development.
The move comes amid concerns over National Bank’s liquidity position and its ability to meet depositors’ withdrawal demands.
Earlier, National Bank Chairman Melita Mehezeen and Acting Managing Director Zahidul Haque met Bangladesh Bank Governor on October 8 and briefed him on the bank’s overall financial situation.
During the meeting, the governor said the central bank was monitoring National Bank’s liquidity position and its capacity to meet customers’ withdrawal requests.
He also made it clear that Bangladesh Bank would not provide support by printing money. Instead, National Bank would have to arrange funds through borrowing from other banks to repay depositors.
The latest move is expected to give depositors an opportunity to access their savings according to their needs as the bank works to address its liquidity challenges.