Tk 17,000cr changed hands during Eid
People transacted Tk 17,000 crore in the fortnight ahead of Eid-ul-Fitr as the Muslim-majority nation prepared for the major festival.
On June 30, Tk 95,000 crore was in circulation. It reached Tk 112,000 crore on July 16, according to Bangladesh Bank.
“The economy is in a good shape. There is stability in the banking sector, and people also spent more on the occasion of Eid,” Bangladesh Bank Governor Atiur Rahman said yesterday while disclosing the transaction figure.
He said a record financial transaction took place during Eid.
Rahman's comments came at a meeting with business reporters over the upcoming monetary policy at the capital's Hotel Purbani.
An official of the central bank said the amount changed hands in the fortnight leading up to last Eid-ul-Fitr was Tk 14,000 crore.
While the exact figures on the amount of transaction ahead of Eid-ul-Fitr are hard to come by, the central bank estimate gave an idea of the amount of money changing hands during the time, said the official.
He said the real transaction would be much higher as people pay bills and buy things using credit and debit cards, and money change hands several times. The governor also said the upcoming monetary policy would take steps so the ongoing stable economic situation continues.
It aims to keep inflation in check, put emphasis on boosting economic growth and expand financial inclusion, he said.
Rahman said the increased supervision of the central bank in recent times has started to pay dividends, as financial scams are hardly taking place in the banking sector nowadays. The central bank has engaged a deputy general manager or joint director for each of the country's banks to keep a close eye on the lenders.
“When the central bank officials think that something is wrong with a bank, a team is sent to look into the issue. If we find any wrongdoing we take actions,” he said, giving an example of BB's strict supervision.
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