Bangladesh Bank suspended the licenses of seven money changers for buying and selling dollars at prices higher than the prescribed price. Of these, the suspension of six has been withdrawn. These money changers have been withdrawn because they have submitted a guarantee that they will buy and sell dollars in accordance with the rules of Bangladesh Bank. As a result, these institutions will be able to transact normally again from now on.
In this context, Bangladesh Bank Executive Director and Spokesperson Mejbaul Haque told Kalbela that the suspension was given because they violated the rules of Bangladesh Bank and bought and sold dollars at a high price. Now they have promised that they will not violate the rules from now on. They will do their activities according to the rules of Bangladesh Bank. In view of this, the license suspension of those institutions has been lifted.
Helal Shikder, general secretary of the Money Exchange Association, told Kalbela that the licenses of these institutions were suspended due to dollar trading outside the prescribed rate. Now they have admitted their mistake to Bangladesh Bank and have apologized for not doing such things again in future. Bangladesh Bank has forgiven them and withdrawn the suspension.
He further said, it is definitely a very good decision. Because when you go to work, there are a few mistakes. And there are not always owners. Employees may have inadvertently made some mistakes. That is why it is not right to cancel the license of the company. Because there are only 235 licensed establishments. If the license of 6/7 institutions is cancelled, then what is left? In view of this, our association has also recommended withdrawal of license suspension.
The six money changers whose licenses have been lifted are York Money Exchange, Zaman Money Changing House, Jenny Money Exchange Limited, Standard Money Exchange, JB Money Exchange and Bengal Money Exchange. Apart from this, Mercy Money Exchange has not contacted Bangladesh Bank, therefore the suspension is in place.
The money changers whose suspension has been lifted have promised to buy and sell dollars within one counter in accordance with the rules of Bangladesh Bank. Also assured to do business at fixed price.
According to the instructions of Bangladesh Bank, money changers can sell cash dollars at a maximum price of 1 taka more than the bank. As a result, the price of the dollar is between 112-113 rupees. But now the dollar is 119-120 rupees in the open market. Cash dollars are not matching in the bank either.
Bangladesh Bank also sought an explanation from 10 more money changers for buying and selling dollars at higher prices than declared. However, no decision has been made yet as everyone has not given an explanation. The 10 money changers called for clarification are New Prime Money Changer, Uttara Money Changer, Misa Money Exchange, Jamuna Money Exchange, Pioneer Money Exchange, Buriganga Money Exchange, Scuff Money Changer, Hazrat Khwaja Baba Mudra Exchange Center, Glory Money Exchange and Matrik Money. the changer
Tags: Bangladesh Bank withdrawn license suspension money changers
