The Bangladesh Bank has decided not to release new banknotes for the general public ahead of the upcoming Eid-ul-Fitr. As a result, most people will have to celebrate Eid without new currency notes this year, and children are also unlikely to receive new notes as Eid gifts.

However, the central bank has arranged new banknotes for its own officials and employees. An internal office order regarding this matter was recently issued, and officials and staff began collecting new notes from Sunday. The decision has drawn criticism from various quarters.

Every year during Eid, there is a high demand for new currency notes, as giving fresh notes as Eid salami is a popular tradition. Temporary stalls selling new and torn notes usually appear in different areas, especially in Motijheel in front of Bangladesh Bank and around Gulistan in Dhaka. These businesses are commonly seen on sidewalks and become quite active during the Eid season.

A few days ago, Bangladesh Bank withdrew its earlier plan to release new banknotes into the market before Eid. Despite this, the central bank has arranged new notes for its own employees.

According to Arif Hossain Khan, Bangladesh Bank has stepped back from the decision to release new banknotes in the market before Eid. Therefore, new notes will not be distributed to the general public this year.

Several officials of the central bank said that although some officials often talk about reforms in the banking sector, they do not prefer such reforms when it comes to their own benefits. While there have been discussions about reducing the use of cash transactions, arrangements for cash have still been kept for the bank’s employees.

Allocation of New Banknotes

According to an office order issued on March 3:

• Executive Directors, Directors, Additional Directors, and Joint Directors can collect up to BDT 183,000 in new banknotes.
• Other employees, including cleaning staff, can collect up to BDT 68,000 in new notes.

Officials and employees can collect new banknotes according to demand from March 8 to March 12.

Questions have been raised as many officials and employees are allowed to take new notes in amounts that may exceed their monthly salaries and allowances. Some observers believe that these new notes could eventually reach the illegal market, including sidewalk traders dealing in new and torn currency notes.