The central bank has said there is no liquidity crisis in banks and that deposits are completely safe.
“Although the banking system of Bangladesh is in a strong position, misleading news is being spread on different social media platforms, provoking people to withdraw their deposits from banks,” Sayeda Khanam, assistant spokesperson of the central bank, said in a statement Sunday.
Urging everyone to beware of misinformation, she added: “No bank in the country was shut in 51 years since Bangladesh’s independence. Hopefully, no bank in Bangladesh will be closed down in the coming days. People’s deposits in banks are completely safe.”
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Money in the bank is generally safe – even during recessions and other challenging economic times.
However, depending on several factors, including one’s balance and the type of account, their money might not be completely protected. A contemporary example would be the situation in Lebanon, which has been brought about by a severe economic crisis, forcing banks to impose restrictions on deposits for months now.
Source: United News of Bangladesh