Many bank branches see withdrawal pressure, early closures amid unrest
Banks to remain closed for three days, but ATM and digital banking services to be available
Due to widespread clashes across the country triggered by the Anti-Discrimination Student Movement's one-point demand for the government's resignation, many bank branches were forced to close earlier than scheduled today (4 August).
Bangladesh Bank Spokesperson Md Mezbaul Haque said yesterday that all banks and financial institutions will remain closed from Monday to Wednesday as per a government's declaration of a general holiday for the period.
A managing director of a leading bank told TBS that most banks had experienced a surge in customer withdrawals. Due to the prevailing situation, there was a significant decrease in customer presence at bank branches yesterday, he said.
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"Those who did visit were primarily there to withdraw money. Despite efforts to reassure customers, many feared they would be unable to withdraw funds in the coming days. However, the banks have no cash shortage and we were able to meet customer demands," said the banker.
Senior officials from several banks said many banks had not opened all their branches. Furthermore, many bank employees were instructed to work from home, they said.
Arif Quadri, managing director and CEO of United Commercial Bank, told TBS that their branches had been instructed to cease operations if they felt any security threats.
"Many branches in Dhaka, Chattogram, Sylhet, Barishal, and other parts of the country were closed earlier than usual. Some branches were even closed between 12pm and 2pm. However, branches in areas with relatively normal conditions remained open until around 4pm," he said.
Despite the three-day bank holiday, ATM and digital banking services will remain operational, bankers said. Customers can continue transactions through bank apps or websites and withdraw cash from ATMs, they said.
When asked about how ATM services would be managed during the holiday, Ali Reza Iftekhar, managing director and CEO of Eastern Bank, told TBS that they had sufficient cash reserves.
"However, in the case of refilling the ATM booths during the curfew, it is possible to refill the booths under the branches," he said.
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ftekhar added, "But it becomes difficult to transport money to distant booths. Because here we have to think about the security of bank officials in addition to the security of money. However, we will do our best to ensure the highest customer service."
