Published : 22 Sep 2026, 04:12 PM
Updated : 22 Sep 2026, 04:14 PM
A Supreme Court lawyer has sent a legal notice demanding that Bangladesh stop printing paper currency without equivalent reserves of gold, silver and major convertible foreign currencies, and withdraw the Tk 1,000 note from circulation.
Lawyer Md Mahmudul Hasan Mamun sent the notice by GEP and email on Tuesday to the Cabinet Secretary, secretary of the Finance Division and Bangladesh Bank governor.
Citing Article 21(1) of the Constitution, the notice says citizens have a duty to obey the Constitution and laws, maintain discipline, perform public services and protect public property.
Mamun told bdnews24.com that he sent the notice to protect people's purchasing power, public resources and economic security.
He said he would file a writ petition with the relevant High Court section seeking mandatory directions if no response is received within 15 days.
The notice cites media reports alleging that Bangladesh Bank has repeatedly increased the money supply by creating "unbacked fiat money" without support from tangible assets.
Referring to the Bangladesh Bank Order, 1972 and Bangladesh Coinage Order, 1972, it says the central bank's powers over currency are not unlimited.
It argues that currency should be backed by real assets, including gold, silver and major convertible foreign currencies such as the US dollar, euro and Chinese yuan.
On the Tk 1,000 note, the notice says its necessity is limited for everyday transactions by ordinary citizens, workers and small businesses.
It alleges that the high-denomination note is mainly used to store or conceal corrupt proceeds, illegal assets and undeclared money, facilitating tax evasion and the expansion of the shadow economy.
It cites India's withdrawal of the Rs 2,000 note as an example of a measure against corruption and undeclared money, arguing that withdrawing high-value notes can affect illicit cash holdings and corruption networks while bringing transactions into the formal financial system.
The notice also argues that continued printing and circulation of Tk 1,000 notes supports people involved in corruption.
It says increasing the supply of paper currency without productive growth or sufficient reserve backing can erode the currency's real value and purchasing power.
Citing the quantity theory of money, it refers to the Weimar Republic, Zimbabwe and Venezuela as examples of how unbacked monetary expansion can lead to high inflation or hyperinflation.
The notice says such inflation can reduce real incomes and purchasing power, raise prices of essential goods and leave poorer and middle-class people unable to afford food, basic necessities and life-saving healthcare.
It links the issue to the right to life under Article 32 of the Constitution.
It demands that Bangladesh Bank refrain from printing, issuing or circulating new banknotes and expanding high-powered fiat money without verified reserves equivalent to gold, silver and major convertible foreign currencies.
It also seeks cancellation of the Tk 1,000 note's legal tender status and publication of a government gazette to that effect.
