Bangladesh Bank says reports on liquidity crisis are ‘conspiratorial’

In an urgent statement, the central bank says the banking system of Bangladesh is in a ‘strong position’

Bangladesh Bank has brushed aside social media posts advising people to draw their deposits from banks as “conspiratorial”.

In an urgent statement on Sunday, the central bank said the banks in the country are not facing a liquidity crisis.

“Conspiratorial news are being spread on social media to draw deposits from banks,” the Bangladesh Bank said.

“The banking system of Bangladesh is in a strong position. There is no liquidity crisis in the banking system.”

The statement noted no bank was closed in Bangladesh since independence.

“We hope no bank will be closed in future. People’s deposits in the banks are in a safe state.”