Banks face hefty cash withdrawals on last working day before Eid-ul-Adha

Customers stood in long queues in front of the bank counters for cash withdrawals on Thursday, the last working day before the start of the Eid-ul-Adha holiday.

Bank officials said that transactions saw a 30 percent increase on Thursday from business on regular working days.

Eid-ul-Adha, one of the biggest religious festivals of Muslims, will be celebrated on Monday.

There has been a rush of customers in banks mainly to withdraw money, said Hasanur Rahman, a senior official of Sonali Bank, Motijheel Branch 

Customers were seen waiting in long queues in branches of different banks with officials struggling to provide services under the pressure of cash withdrawal, he said.

This correspondent observed crowds of customers in banks in different areas of the capital including Motijheel, Dilkusha, Paltan, Mogbazar, Farmgate and Gulshan areas.

A long queue of customers was seen in front of the cash and deposit counters of the bank branches since morning.

Apart from withdrawing money and collecting new currency notes, lines for depositing various invoices, deposits and other service bills have also been noticed.

Meanwhile, the cash counter officers of the banks had to deal with high demand due to the pressure of additional customers.

Kazi Jahangir Alam, manager of Islami Bank Motijheel Branch said that there has always been a rush on the last working day before Eid.

People will go to villages to celebrate Eid and buy sacrificial animals, so they are withdrawing money. Again, cash is being collected to pay the salaries and allowances of the workers of factories and industrial establishments, he said.

An official of Bangladesh Bank said that usually Tk 13 million (Tk 1.30 crore) to Tk 15 million (Tk 1.50 crore) are transacted on the last working before Eid.

"This year, also a similar volume of money will be transacted before Eid-ul-Adha, the central bank provides cash liquidity support to different banks to handle such cash withdrawal pressure."

Banks in Dhaka, Chattogram, Gazipur and Narayanganj will remain open in the industrial areas to pay salaries, allowances of workers and purchasing export bills.

Besides, banks will remain open till 10:00 pm in cattle markets (haat) areas in the capital.