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No Harm to Depositors as Deposit Insurance Doubles: Governor Mansur

Rtv news

  08 Sep 2024, 19:36
Photo: Collected

Bangladesh Bank Governor Dr. Ahsan H. Mansur has assured depositors that their savings are secure, even as several banks struggle with financial challenges.

During a press conference on Sunday, September 8, the governor acknowledged that approximately 10 banks in the country are facing serious difficulties but stressed the need to restore customer confidence by protecting 95% of depositors.

Highlights:
Deposit Insurance Increase: The deposit insurance has been doubled from Tk 1 lakh to Tk 2 lakh.
Depositor Protection: The new insurance scheme ensures protection for 95% of depositors.
Banks Facing Challenges: Approximately 10 banks in the country are facing serious financial difficulties.
Available Fund: Bangladesh Bank has a fund of Tk 25,000 crore, mainly to support the SME sector.

"No matter the condition of the banking sector, depositors will not be harmed," Dr. Mansur said. "To safeguard them, the deposit insurance has been doubled from Tk 1 lakh to Tk 2 lakh, ensuring the protection of 95% of customers. No country offers 100% protection for deposits, but we are providing 95%."

He further noted that Bangladesh Bank has a Tk 25,000 crore fund available for banks, primarily to support the SME sector. Banks have been asked to submit written requests to access these funds.

Additionally, Dr. Mansur clarified that no bank accounts belonging to Beximco or S Alam Group have been seized, and the operations of these companies will continue as usual.

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