Banks Deploy Fake Note Booths

In preparation for the upcoming holy festival of Eid-ul-Azha, the Bangladesh Bank has issued strict directives to curb the circulation of counterfeit currency in cattle markets across the country. As part of the initiative, commercial banks have been instructed to set up dedicated note authentication booths at key livestock markets, ensuring secure cash transactions during the peak trading period.

According to a circular issued on Sunday, 10 May, all participating banks must keep these verification services operational on a continuous basis until the eve of Eid. Each bank has also been required to appoint a designated coordination officer, whose name, designation, and mobile contact details must be submitted to the central bank by 17 May via email.

The directive emphasises that banks must work in close coordination with local authorities, including city corporations, district administrations, municipalities, and law enforcement agencies. This is intended to ensure smooth management of booths and minimise disruption in densely crowded cattle markets.

Responsibility for booth deployment has been allocated across different regions. In the capital, the Dhaka North City Corporation and Dhaka South City Corporation have designated banks for specific cattle markets. Outside Dhaka, regional offices of the central bank will determine allocations, while in districts without central bank branches, the task will be coordinated by Sonali Bank.

A wide range of commercial banks has been assigned to operate these booths. Their role will include verifying banknotes, assisting traders and buyers, and helping prevent financial fraud during one of the country’s largest seasonal livestock markets.

Assigned Banks by City Corporation

Officials have stressed that the initiative is designed not only to prevent counterfeit currency circulation but also to enhance public confidence in cash transactions during the high-volume Eid cattle trade. The measure is expected to improve financial security and reduce disputes between buyers and sellers in crowded market environments.

Authorities believe that the presence of trained banking personnel at livestock markets will significantly strengthen oversight, ensuring a safer and more transparent trading environment during one of the most economically active periods of the year in Bangladesh.