Banks to help detect fake notes at cattle markets

As Eid-ul-Azha approaches, Bangladesh Bank has directed scheduled banks to operate fake currency note detection services free of cost at cattle markets across the country.

Experienced cash officers should be assigned to prevent the entry of fake notes at sacrificial animal markets, according to a central bank circular issued on Wednesday. 

The central bank said a group of people are active across the country, including in the capital Dhaka, to bring fake notes into the cattle market during the upcoming holy Eid-ul-Azha.

The banks should provide fake currency note detection services at sacrificial animal markets in Dhaka, other city corporations, municipalities, districts, and upazilas, it added.

Bangladesh Bank asked commercial banks to assign dedicated officers in this regard and coordinate with branches of the central bank to set up fake note detecting booths.

In the absence of any central bank branch, chest branches (that also hold money for other banks) of Sonali Bank Ltd have been asked to assign different banks to provide the service at cattle markets, the circular said.

The central bank sought the names, designation, and mobile numbers of people in-charge of the market by 4 July, as well as the names, designation and mobile numbers of officers nominated as coordinators of the bank.

The banks will have to set up fake currency note detection machines and the facility of counting notes at sacrificial cattle markets.
Furtermore, a banner showing the name of the bank and their fake note detection booth should be displayed at markets.

In detecting counterfeit notes, officers on duty at the markets should ensure compliance with hygiene rules.