Businesses in Bangladesh hit by cash supply drought: Report
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Business owners said their operations have halted since the second half of July when the widespread protests erupted.
Abu Bakar Siddique, an oil wholesaler in one of the largest kitchen markets in Dhaka, Karwan Bazar, said his bank would not allow more than Tk 1 lakh to be withdrawn.
“This is a big problem. As a result, the normal pace of business is being disrupted,” the report quoted him as saying. He said most business transactions are being conducted through bank-to-bank transfers or real-time gross settlements.
Taslim Shahriar, deputy general manager of a major commodity importer and processor, said not all business people accept cheques. “We have to pay in cash too, but now, transactions are only taking place through bank-to-bank transfers and cheques. The sooner this problem is resolved, the better for us,” Shahriar said.
A senior official of another major commodity importer and processor said, “As such, I am unable to pay the full salaries to those who are daily wage earners. I told the workers to wait this week as there is no way I can manage cash now.”
Asserting that daily wage earners are facing a very difficult situation, the official said, “It’s inhumane for them. If this situation persists for long, it will be very difficult to conduct business.”
