This Eid no new notes will be available from the bank branches. Relevant sources have stated that objections have been raised by several parties due to the image of Sheikh Mujibur Rahman on the currency. In light of this, the Bangladesh Bank has sent a letter to the banks to suspend the distribution of new notes ahead of Eid. However, the existing notes with Sheikh Mujibur Rahman’s image in circulation will continue to be used. The central bank is working to introduce new design notes in the market by next month.
In the letter sent to various banks, the central bank stated that the exchange of new notes for the upcoming holy Eid ul Fitr should be suspended for the public. Additionally, banks were instructed to keep the new notes that are currently in their branches, without exchanging them, and to store them in the respective branches. The letter also advised that necessary measures be taken to carry out all cash transactions using re-circulated notes. Meanwhile, officials of Bangladesh Bank have also been informed that they will not receive new notes.
Earlier, the central bank had announced that new currency notes would be available starting from March 19 for Eid-ul-Fitr. New notes of 5, 20, and 50 taka were to be issued. The exchange of new notes was planned through Bangladesh Bank and several branch offices, with an intention to complete the distribution by March 25. However, the decision to suspend the distribution of new notes has now been made by Bangladesh Bank.
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When asked, Bangladesh Bank’s spokesperson Arif Hossain Khan told Prothom Alo that new notes will not be exchanged this Eid. However, the notes already in circulation will continue to be used. It is known that new design notes will be introduced in the market in April-May. This time, the portrait of Sheikh Mujibur Rahman will be removed from the design of the currency.
In its place, designs related to the July Revolution, graffiti, and various buildings will be included in the new currency notes. An official involved in the printing of currency notes told Prothom Alo that only 8-10 factories worldwide supply the paper used to print money, and 190 countries buy it from these factories. Therefore, it is not possible to suddenly change the currency design and print new notes. Additionally, ink, dies, and all the printing equipment need to be imported. As a result, changing the design and printing new notes takes around two years. However, in light of the changed circumstances, efforts are being made to introduce new notes in a shorter time, while ensuring the security and quality of the currency.
Source: Prothom Alo
