Ahead of Eid-ul-Azha, new currency notes will be released into the market. However, the central bank did not issue any new notes before last Eid-ul-Fitr.
This time, in preparation for the upcoming Eid-ul-Azha, Bangladesh Bank is getting ready to release redesigned Tk 20, 50, and 1000 banknotes.
The Security Printing Corporation (commonly known as Taksal) in Gazipur has already begun printing the new notes. These notes will not feature the image of Sheikh Mujibur Rahman. Instead, they will include graphics related to the July uprising and revert to earlier designs.
Arif Hossain Khan, Executive Director and Spokesperson of Bangladesh Bank, stated that the new design notes will be released before Eid.
All preparations are being made accordingly, and the printing process is in its final stages. However, he did not specify the exact dates when the notes will be released.
Another senior official of Bangladesh Bank, speaking on condition of anonymity, said the printing of the Tk 20 note is nearly complete and will be handed over to Bangladesh Bank next week.
The Tk 50 and Tk 1000 notes will be handed over the following week. The decision on when these notes will be circulated will be made by Bangladesh Bank.
According to the official, the new notes will first be distributed to the Motijheel office of Bangladesh Bank and other branches, and then to commercial banks. There are plans to release a limited number of new notes before the Eid holidays. He also mentioned that the volume of printed notes is lower than the market demand.
Due to controversies over banknotes bearing Sheikh Mujibur Rahman’s image, Bangladesh Bank on March 10 instructed all banks to halt the exchange of new notes.
Additionally, bank branches were directed to preserve any new notes in stock without exchanging them. Since then, the exchange of new notes has been completely suspended, leading to an increase in worn-out notes in circulation.
