Dhaka, May 11 (V7N)- Bangladesh Bank has directed commercial banks to set up fake currency detection booths at cattle markets across the country ahead of the upcoming Eid-ul-Adha to ensure safe and smooth financial transactions during the festive season.

According to a circular issued on Sunday, all scheduled banks have been instructed to appoint a coordinating officer for the initiative and send the officer’s name, designation, and mobile number to Bangladesh Bank via e-mail by May 17.

The central bank has already finalized the responsibility of different banks for approved cattle markets under Dhaka North and South City Corporations. For markets outside the capital, the responsibility will be assigned by the respective offices of Bangladesh Bank.

The directive stated that uninterrupted fake note verification services must remain operational at the approved cattle markets in Dhaka until the night before Eid-ul-Adha.

In districts where Bangladesh Bank does not have any branch offices, Sonali Bank will coordinate and distribute responsibilities among other commercial banks.

Bangladesh Bank also instructed banks to maintain close coordination with city corporations, district administrations, municipalities, local administrations, and law enforcement agencies to ensure smooth and secure transactions at cattle markets.

The circular further warned that legal action will be taken against individuals found involved in circulating counterfeit currency notes during the Eid cattle trading period.

END/SMA/AJ