Bangladesh Bank (BB) has directed banks to set up booths at cattle markets ahead of Eid-ul-Azha to detect fake or counterfeit notes amid huge cash transactions.
The central bank issued a circular on Wednesday (June 21) saying that banks should appoint dedicated officers as coordinators of the respective banks and mail the names and mobile phone numbers of the officers to Bangladesh Bank.
Scheduled banks have been asked to coordinate with Central Bank branch offices outside Dhaka for setting up booths.
Meanwhile, the banks will operate under the supervision of Sonali Bank where the central bank has no branch office, the circular said.
Banks can liaise with local authorities including city corporations, Deputy Commissioners offices, municipalities and law enforcement agencies to ensure smooth transactions.
It has been said that the banks will install cash counting machines in each booth to ensure note counting. According to the notification, if any fake notes are found, legal action will be taken against those involved in them.
Bank branches should run video campaigns on big screens highlighting the security features of the bank.