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Fake news being spread over liquidity crisis: ABB

  • Staff Correspondent
  • 21 November, 2022 12:00 AM
  • Print news

Association of Bankers Bangladesh (ABB) has criticized the "fake news" circulated on social media over the liquidity crisis in the banking sector. 

It said this was creating a negative impact on the people and the financial institutions. 

“The unfounded information appears to be particularly targeted at Bangladeshi diasporas to discourage them from remitting their savings to Bangladesh through legal banking channels,” read a statement of ABB on Sunday. 

The platform or chief executives of banks categorically condemned such rumours terming as false and fake one. 

In the statement, ABB Chairman Selim RF Hussain said all commercial banks in Bangladesh operate under liquidity regulations with strict supervision of the financial sector regulator.

“We would like to draw the attention of our respected clients to the recent statement of Bangladesh Bank which has confirmed excess liquidity of Tk 1.6 trillion,” he said

The Bangladesh Bank has made it clear that banks have sufficient liquidity to support the needs of their different customer segments.

The information is being spread at a time when the central bank and the banking sector are working to stabilise the economy and re-vitalise economic growth.

“We encourage our respected account holders and the general public not to be misled by such ‘fake news’ and to continue to show faith in scheduled banks,” Hussain added.