Bangladesh Bank has discontinued four categories of over-the-counter services, including the sale of savings certificates and e-challan facilities, at its Motijheel office.
After November 20, customers must obtain these services through commercial banks, the central bank said in a press statement on Tuesday.
According to the notice from the regulator’s head office, the Motijheel office will stop providing savings certificate and prize bond sales, exchange of damaged or torn notes, and e-challan-related services after the end of business hours on November 20.
The statement adds that no central bank in the world provides such retail services directly to the public at its counters. As a Key Point Installation (KPI), Bangladesh Bank has decided to withdraw these customer-facing services considering security requirements.
The central bank, however, said it will intensify monitoring to ensure commercial banks can deliver these services smoothly. Located directly beneath the central bank’s main headquarters, the Motijheel office has been offering these services since 1985.
Officials said Bangladesh Bank has finalised plans to gradually phase out all such retail services from its branch offices nationwide. Currently, the Motijheel office and other branches provide around 10 types of services on behalf of the government and the central bank, including the sale and encashment of savings certificates and prize bonds.
Until now, the Motijheel office delivered these services through 28 counters. Due to modernisation of the office, installation of an automated vault with advanced security features, and upgrades to the main building’s security, 12 counters will be permanently shut after 20 November.
Sixteen counters will remain open for a limited set of services, including coin exchange, sale of commemorative coins, settlement of disputes over soiled or unfit notes, and inter-bank transactions.
Governor Ahsan H Mansur has recently instructed officials to prepare a plan to phase out these remaining services as well. He has also directed Bangladesh Bank branches in different divisions to begin winding down similar customer services.
Under the national security and KPI security protocols, institutions vital to national security and economic stability are classified as KPIs. Bangladesh Bank falls under the high-security category, and public access to KPI facilities is either restricted or prohibited.
