Home Bank & Finance BB issues directives to stop writing, stapling on Taka
Bank & Finance - 4 weeks ago

BB issues directives to stop writing, stapling on Taka

Staff Correspondent: Bangladesh Bank (BB) has issued directives to stop writing and stapling on Taka, the currency of Bangladesh. Even though such instructions were given earlier, the central bank has become stricter again as it was not effective.
The instructions in this regard have been issued by the Department of Currency Management of Bangladesh Bank (BB) on Tuesday. The directives have been sent to the managing directors and chief executive officers of all the banks.
New guidelines include refrain from writing, signing, stamping, stapling of packets of notes (excluding Tk 1000 notes) and confirming the number of notes in the packet. After packing, the name of the concerned bank branch,
seal, signature of the note counter and affixing the label/flyleaf with the date should be strictly followed. In this case, the banks were again instructed to follow all the rules and regulations mentioned in the circulars of 2019 and earlier in the case of deposit of currency notes or bank notes in Bangladesh Bank.
The directives further state that after the banknote enumerator confirms the number of notes in each packet, there is a provision to affix a label/flyleaf with the name, seal, signature and date of the bank account concerned, but recently it is noticed that Date writing, branch seal, signature and sub-signature, stapling etc. are being done. As a result, the notes have become obsolete in a relatively short period of time and consumers are also suffering. Above all, state money is being wasted. Such activities are one of the obstacles in the implementation of Bangladesh Bank’s clean note policy, which is not desirable at all.

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