Brief respite for businesses as banks open on Saturday

Bangladesh Bank's step to keep the branches of scheduled banks dealing in foreign currencies open for a limited period on Saturday gave businesspeople a brief respite. But praising the central bank's decision, business leaders pointed out that opening the banks for a limited time will not bring ultimately any result for the country.

They suggested keeping the customs and Export Promotion Bureau (EPB) offices open on Saturday for not only a limited period but for full day.

"The banks should operate whole day on Saturdays for the betterment of the economy, although the decision of keeping the banks open for half day is a good one," BGMEA President Annisul Huq said.

He also pointed out that without customs and EPB operations, the objective of keeping the banks open will end up in a mismatch.

Huq said he already wrote about the matter to the customs and EPB authorities.

"I think, customs and EPB authorities will take the decision within a week to resume their activities on Saturday," he said, adding, "We will further persuade the central bank to extend the office hours on Saturdays for whole day."

Huq was also critical of Friday holiday. "It was made clear in the Quran that everybody must have to work for his/her meals. So, why should we observe Friday as holiday in the name of religion?" he questioned.

Considering Bangladesh's challenge in the post-MFA era, Huq suggested weekly holiday on Sundays to adjust the closure with the foreign countries. "We will, otherwise, become handicapped," he apprehended.

Meanwhile, a few branches of Prime Bank, Dhaka Bank and Mutual Trust Bank in the city's commercial hub of Motijheel were seen open yesterday at Bangladesh Bank's bidding.

Bankers were also seen present at their respective branches, but there were hardly any client to carry out banking transactions.

"The clients are yet to know that the banks remain open on Saturday," said a bank executive.

None of the branches of the nationalised commercial banks (NCBs) was open, but a Sonali Bank official said the NCBs are likely to keep open their important branches from next Saturday.

Some 22 branches of Prime Bank will remain open from 9am to 1:30pm while transaction will continue till 12noon on Saturdays. Dhaka Bank will keep their 13 branches open from 9am to 12noon.

The government, under an austerity measure in the wake of oil price hike, has declared two-day weekly holiday on Friday and Saturday that drew widespread criticism from the business circles.