Bangladesh Bank halts savings certificate, other citizen services

The central bank suspends services such as prize bonds, note exchange and national savings certificate transactions, citing security considerations

Bangladesh Bank has suspended all citizen-facing services, including the buying, selling and encashment of national savings certificates, at all of its offices.

The halt also covers prize bond services, the exchange of torn or damaged banknotes, and A-challan transactions, officials said.

The suspension applies to the central bank’s Motijheel headquarters, as well as its regional offices in Chattogram, Khulna, Bogura, Rajshahi, Sylhet, Sadarghat, Barishal and Rangpur.

In a statement issued on Thursday, the central bank had announced that citizen services would cease from Nov 20. With Friday and Saturday being weekly holidays, the suspension effectively came into force on Sunday.

In its statement, the central bank said the decision was taken "considering the security aspect as a KPI-included institution”, adding that it would step up oversight to ensure that commercial banks continued to provide these services “without any obstruction”.

Many customers, however, prefer to visit the central bank directly, saying they receive smoother and faster service there than at commercial banks. For years, people have travelled from across Dhaka to the Motijheel office to avoid delays and complications at their local branches.

Bangladesh Bank had previously suspended these services once before, later reinstating them after public pressure. It has not indicated when the latest suspension might be lifted.