Dhaka:National Bank Limited has begun accepting applications from depositors looking to withdraw their money, with plans to fulfill these requests from October 15.
According to Bangladesh Sangbad Sangstha, this decision comes as the bank faces scrutiny over its liquidity situation and its capacity to meet the demands of depositors seeking to withdraw funds.
Earlier this month, National Bank Chairman Melita Mehezeen and Acting Managing Director Zahidul Haque met with the Governor of Bangladesh Bank on October 8 to discuss the bank's overall condition. During the meeting, the governor assured that the central bank was closely monitoring National Bank's liquidity status and its ability to handle withdrawal requests.
However, the governor emphasized that Bangladesh Bank would not print money to aid National Bank. Instead, the bank is expected to secure funds by borrowing from other financial institutions to repay its depositors.
This measure aims to provide depositors with the opportunity to access their funds According toir needs, while National Bank addresses its existing liquidity challenges.