Central Bank Orders Liquidity Surge for Eid Holidays

The Bangladesh Bank has issued a mandatory directive to all scheduled banks, commanding them to ensure a robust and uninterrupted supply of cash across Automated Teller Machine (ATM) networks during the forthcoming Eid-ul-Fitr holidays. In a circular dispatched to the managing directors and chief executives of commercial banks, the central bank emphasised the necessity of maintaining high liquidity levels to meet the seasonal surge in consumer spending.

Historically, the period surrounding Eid sees a dramatic spike in cash withdrawals, often resulting in protracted queues and the premature exhaustion of funds at many urban and rural kiosks. To mitigate these disruptions, the central bank’s latest mandate extends beyond physical cash to include a comprehensive suite of digital payment ecosystems.

A Multichannel Directive

The central bank has outlined specific operational protocols for various financial touchpoints to guarantee a seamless transaction experience for the public. These include Point of Sale (POS) terminals, Quick Response (QR) code payments, Internet Banking, and Mobile Financial Services (MFS).

Key Operational Requirements:

Security and Technical Vigilance

The Bangladesh Bank has placed a particular emphasis on cyber-security and technical resilience during the holiday hiatus. Banks have been instructed to conduct pre-holiday system audits to ensure that online gateways can handle the anticipated traffic volume without "85 Response Code" delays or settlement failures.

Furthermore, banks are encouraged to utilise mass media to educate the public on electronic payment safety. Senior bank officials have been tasked with conducting random on-site inspections of ATM booths to ensure that security personnel are alert and that machines are functioning correctly.

Protecting the Consumer Experience

The ultimate goal of this directive is to uphold public confidence in the banking sector during one of the year’s most significant economic periods. By mandating that receiving banks credit funds to beneficiaries immediately upon receiving settlement reports, the central bank aims to eliminate the traditional delays that often plague cross-bank transfers during long holidays.

"Under no circumstances should a customer face harassment or be denied access to their funds during the festivities," the directive stated, underlining the regulator's commitment to consumer protection.