No new notes for Eid due to Sheikh Mujibur Rahman’s image

The distribution of new notes for this year’s Eid celebrations has been put on hold. Bangladesh Bank has issued a directive to all banks to suspend the exchange of new notes, citing objections raised over the image of Sheikh Mujibur Rahman being featured on the currency.

Sources close to the situation reveal that the new notes, which were set to be exchanged ahead of Eid-ul-Fitr, will no longer be available for public exchange. 

The move comes after multiple parties voiced concerns about the prominent image of Sheikh Mujibur Rahman on the banknotes, prompting the central bank to step in. 

However, it‍‍`s important to note that the notes already in circulation featuring the image of the Father of the Nation will still be valid and can be used for regular transactions.

In a letter sent to various banks, the central bank emphasized that the new notes currently in reserve should not be exchanged for the time being. 

Banks have been instructed to hold onto the new notes and refrain from distributing them. 

The letter also suggested that regular transactions should continue using the notes that are already in circulation.

The central bank had previously announced that from March 19, new notes of 5, 20, and 50 Taka would be available for exchange through the central bank and several commercial banks. 

The exchange was supposed to last until March 25, allowing the public to get fresh notes for the holiday. However, that plan has now been scrapped.

Arif Hossain Khan, the spokesperson for Bangladesh Bank, confirmed that there will be no new notes for exchange this Eid. 

He added, "New notes will not be exchanged this Eid. However, the notes that are already in circulation will continue to be in use."

On the other hand, there is some good news for those waiting for fresh designs. New notes with a redesigned look are expected to be released between April and May. 

The upcoming notes will feature a new design, and notably, the portrait of Sheikh Mujibur Rahman will be removed. 

The new currency will showcase graphics from the July Revolution, along with images of various monuments.

According to a currency printing official, it is not easy to quickly change the design of the banknotes. 

“Only a few factories in the world provide the paper for printing currency, and the machinery needed for printing must be imported from abroad,” the official explained. “This means it takes at least two years to introduce a new design.” 

However, in light of the current situation, efforts are being made to speed up the process to bring the new notes to market as quickly as possible, while ensuring the security and quality of the currency.

With Eid fast approaching, many will be disappointed by the suspension of new note exchanges. However, the public can still use the existing notes with Sheikh Mujibur Rahman’s image for their celebrations. 

As for the future, it seems the new notes will bring a fresh look to the currency later this year.