National Bank starts accepting applications for deposit withdrawals

National Bank Limited has started accepting applications from depositors for withdrawing their money from Sunday, while the bank will allow withdrawals according to customers’ demand from 15 October.
Bangladesh Bank Executive Director and Spokesperson Arief Hossain Khan confirmed it.
The move comes amid concerns over the bank’s liquidity situation and its ability to meet depositors’ withdrawal demands.
Earlier, National Bank Chairman Melita Mehezeen and Acting Managing Director Zahidul Haque met the Bangladesh Bank governor on 8 October and briefed him on the bank’s overall situation.
During the meeting, the governor said the central bank was monitoring National Bank’s liquidity position and its ability to meet customers’ demand for withdrawals.
He also made it clear that Bangladesh Bank would not provide assistance by printing money. Instead, the National Bank would have to arrange funds by borrowing from other banks to repay depositors.
The latest move is expected to provide depositors with an opportunity to withdraw their funds in line with their needs, as the bank works to address its liquidity challenges.