Banks face hefty cash withdrawals on last working day

Customers stood in long queues before bank counters for cash withdrawals on Thursday, the last working day before the start of Eid-ul-Azha holiday.

Bank officials said that transactions saw a 30 percent increase by on Thursday from business on regular working days.

 Eid-ul-Azha, biggest religious festivals of Muslims, will be celebrated on Monday.

There has been a rush of customers in banks mainly to withdraw money, said Hasanur Rahman, a senior official of Sonali Bank, Motijheel Branch 

Customers were seen waiting in long queues in branches of different banks with officials  struggling to provide services under the pressure of cash withdrawal, he said.

This correspondent observed crowd of customers in banks in different areas of the capital including Motijheel, Dilkusha, Paltan, Mogbazar, Farmgate and Gulsha areas.

A long queue of customers was seen in front of the cash and deposit counters of the bank branches since morning.

Apart from receiving new money, lines for depositing various invoices, deposits and other service bills have also been noticed.

Meanwhile, the cash counter officers of the banks had to deal with high demand due to the pressure of additional customers.

Kazi Jahangir Alam, manager of Islami Bank Motijheel Branch said that there has always been a rush on the last working day before Eid.

People will go to villages to celebrate Eid and buy sacrificial animals, so they are withdrawing money. Again, cash is being collected to pay the salaries and allowances of the workers of factories and industrial establishments, he said.

An official of Bangladesh Bank told UNB that usually Tk1.30 crore to Tk 1.50 are transacted at the last working before Eid.

“This year also similar volume of money will be transacted before Eid-ul-Azha, the central bank provides cash liquidity support to different to handle such cash withdraw pressure.

Banks  in Dhaka, Chattogram, Gazipur and Narayan Ganj will remain open in the industrial areas to pay salaries, allowances of workers and purchasing export bills.

Besides, banks will remain open till 10pm in cattle markets (haat) areas in the capital.