In a sudden move, Bangladesh Bank has instructed commercial banks to halt the distribution of new currency notes ahead of Eid, disappointing many who traditionally exchange crisp banknotes during the festive period.
The central bank issued the directive on Monday (10 March), advising banks to retain their stock of new notes instead of circulating them.
While Bangladesh Bank has not provided an official explanation, a letter sent to banks states that the exchange of fresh banknotes for the public is to remain suspended for Eid-ul-Fitr.
It further instructs bank branches to preserve any new notes in their possession and to continue cash transactions using only recirculated banknotes.
Even central bank officials will not receive fresh notes this year, according to the directive.
Insiders suggest that the suspension stems from objections raised by certain quarters over the presence of Sheikh Mujibur Rahman’s portrait on the banknotes.
Given the sensitivity of the issue, the central bank has opted to delay the circulation of new notes, though existing ones featuring the portrait will remain in use.
Meanwhile, efforts are underway to introduce a redesigned series of banknotes next month.
When approached for comment, Bangladesh Bank’s Executive Director and Spokesperson Arif Hossain Khan said, “New notes will not be exchanged this Eid, but the existing currency will continue to circulate.” He refrained from elaborating on the reasons behind the decision.
Previously, Bangladesh Bank had announced that new Tk5, Tk20, and Tk50 notes would be available for exchange between 19 and 25 March through selected bank branches and the central bank.
However, this plan has now been shelved.
According to sources, the redesigned banknotes, expected to be introduced in April or May, will exclude Sheikh Mujibur Rahman’s portrait.
Instead, they will feature imagery related to the July Revolution and various national landmarks.
