The country’s banking monitoring system should be improved more to prevent circulation of fake notes--the trend of which is on rise in recent days. A noted banker Mirza Mahmed Rafiqur Rahman, additional managing director of United Commercial Bank Ltd (UCBL), made the observation while addressing a seminar on “Raising Awarness Against  Fake Notes” at Bangladesh Institute of Bank Management (BIBM) on Tuesday.

Waking up to the threat of fake currency flooding country’s economy, the UCBL top executive said that the trend should be checked and stopped immediately.

He also stressed the need for more media attention to make public aware about the fake currency that haunts the country’s economy.

He advised the banking sector regulator to run advertisements in media and billboards at various public important areas like railway stations, bus terminals, hat-bazars and other public meeting places to make the public aware.

The advertisement may carry salient features and characteristics of originals currency notes of different denominations which might be displayed clearly.

Held at the BIBM auditorium, the daylong programme was addressed among others by  Bangladesh Bank Deputy Governor Md. Abul Kashem, BIBM Director General Professor Dr. Toufic Ahmad Chowdhury, Dasgupta Asim kumar, Bangladesh Bank executive director SM Aminur Rahman and Janata Bank Managing Director Nazmul Haque.

Dwelling on the rising trend of fake notes in circulation, the Bangladesh Bank Deputy Governor also urged the government to take stringent measures to check menace and exemplary punishment for those who would be found involve in any sort of irregularities in this regard.

Speakers at the seminar informed that most of the banks have already undertaken a series of measures to face the problem and make people aware about the spread of counterfeiting of notes and its impact on the economy.

As a part of tackling the problem, many of the banks have already brought all their note-counting halls and the premises under the watch of CCTV camera round the clock.

They also advised the central bank to strengthen monitoring in all bank branches, countrywide ATM booths and launch surprise visit to check the menace.

The Daily Independent/Bangladesh/ 11th July 2012