Banks asked to reopen branches in commercial areas of Dhaka, Ctg

Star Online Report

Bangladesh Bank today asked banks to open their branches in Dhaka’s Motijheel and Dilkusha areas and Chattogram’s Agrabad and Khatungonj areas.

The central bank issued the directive as a measure to help release imported goods and commodities stuck at Chattogram land port.

The branches of the banks in commercial areas will carry out their cash transaction related operations from 10am to 2pm. However, the branches and their head offices in the commercial areas will be kept open till 3:30pm.

In another move, the central bank has also lowered the transaction charge of mobile financial services (MFS) to aid workers of export-oriented industries.

MFS providers were asked to impose a maximum charge of Tk 4 on the withdrawal of workers’ wages under the government stimulus package.

The MFS providers, however, will get Tk 8 per transaction as banks, which will disburse salary to the workers, will have to pay the rest.

Lenders will have to afford the money from their income in the form of a 2 percent service charge from exporters.

MFS providers usually impose Tk 18 for a cash-out transaction of Tk 1,000.

The government on March 25 announced a stimulus package of Tk 5,000 crore for export-oriented industries to fight the impact of coronavirus on the country’s economy.

As per the government instruction, the industries, which will provide salaries to their workers through the bank or MFS accounts, will be eligible to get the interest-free funds from the stimulus package.  

However, the industries are expected to give 2 percent service charge of the loan to the banks.