5 money changers` license suspended...

5 money changers` license suspended

 Staff Correspondent daily-bangladesh.com

 Published: 09:41 PM, 2 August 2022  

5 money changers` license suspended- File Photo

5 money changers` license suspended- File Photo

Bangladesh Bank has suspended the license of five money changers for dollar manipulation in the open market. Apart from this, 42 money exchangers have been sent show-cause notice.

Central Bank spokesperson Sirajul Islam gave this information on Tuesday.

He said if they can give a proper answer to this question, the license of these money exchanges will be reconsidered. Nine more institutions have been sealed off in the raid. These companies have been doing business for a long time without taking a license.

Sirajul Islam said due to the dollar crisis, Bangladesh Bank has given several conditions. This includes Bangladesh Bank’s permission to open an import LC of more than 3 million dollars. Earlier, it was 5 million dollars. Again, a provision of 100% margin has been made in luxury goods. Due to these reasons, our import LCs decreased in July compared to last June. At the same time, remittances have increased and exports have increased. These aspects will be helpful in dealing with the dollar crisis. The market will stabilize.

He also said the regulatory agency Bangladesh Bank has continued to inspect the price of the dollar. Multiple teams consisting of Bangladesh Bank and National Security Intelligence (NSI) officials are working in the field to reduce the violence of criminals.