Bangladesh Bank (BB) has directed all scheduled banks to establish counterfeit currency detection booths at authorised cattle markets across the country ahead of Eid-ul-Azha, aiming to prevent the circulation of fake banknotes during the peak seasonal livestock trade.
The instruction was issued through a circular on Sunday, outlining detailed operational guidelines for banks to ensure secure and transparent financial transactions in cattle markets nationwide.
According to the directive, the verification booths will operate continuously from the opening of cattle markets until the night before Eid. Banks have been instructed to provide free note verification and cash-counting services to both buyers and traders.
Each booth will be equipped with modern note-counting machines and counterfeit detection tools, while experienced bank officials trained in identifying fake currency will be deployed to manage operations. The booths must also display clear signage marked as “Fake Note Verification Booth” for public awareness.
To ensure proper coordination, Bangladesh Bank has asked scheduled banks to appoint senior officials at the level of Deputy General Manager as coordinators for the initiative. In areas where the central bank has no branches, Sonali Bank PLC will lead coordination through its chest branches.
The circular also instructs banks to coordinate with city corporations, municipalities, upazila administrations, and law enforcement agencies including police, RAB, BGB, and Ansar to ensure security and smooth operations.
Under the guidelines, suspected counterfeit notes must be confiscated following proper procedures, including recording the presenter’s identity, address, and statement, and marking the note as fake before further legal action if required.
Banks have also been asked to run public awareness campaigns by displaying videos on security features of genuine banknotes in all branches during Eid season.
Bangladesh Bank said the initiative is aimed at protecting traders, farmers, and consumers and ensuring transparency in one of the country’s largest seasonal livestock markets.
