Anti-Counterfeit Drive at Cattle Markets

In the run-up to the holy festival of Eid-ul-Azha, the central bank of Bangladesh has introduced a series of enhanced measures aimed at preventing the circulation of counterfeit currency in cattle markets across the country. The initiative comes in response to the annual surge in cash-based transactions during the purchase and sale of sacrificial animals, a period that has historically been vulnerable to fraudulent activities involving fake banknotes.

According to a recent circular issued by the central bank, commercial banks have been instructed to operate dedicated note verification booths at designated cattle markets, particularly in the capital and other major urban centres. These services must remain operational on a continuous basis until the night preceding Eid, ensuring that buyers and sellers can verify cash transactions without interruption.

Each participating bank is required to appoint a coordination officer responsible for overseeing booth operations. The officer’s name, designation, and mobile contact number must be submitted to the central bank by 17 May via email. This measure is intended to strengthen administrative oversight and ensure swift communication between regulatory authorities and field-level operators.

The directive further emphasises the importance of close coordination between banks and local administrative bodies, including city corporations, district administrations, municipalities, and law enforcement agencies. Such cooperation is expected to enhance crowd management, maintain order within the markets, and improve the overall effectiveness of counterfeit detection efforts.

In Dhaka North City Corporation areas, multiple commercial banks have been assigned responsibilities across various cattle markets, including both Islamic and conventional institutions. Meanwhile, Dhaka South City Corporation has allocated 19 banks to manage operations across 13 major livestock markets within its jurisdiction.

Outside the capital, regional offices of the central bank will determine the distribution of responsibilities. In districts where the central bank does not maintain a direct presence, Sonali Bank will coordinate the allocation of duties among participating financial institutions.

Summary of Key Instructions

Officials believe that these measures will significantly reduce the risk of counterfeit currency circulation in cattle markets. Given the high volume of cash transactions during Eid-ul-Azha, the introduction of verification booths is also expected to strengthen public confidence in financial dealings and contribute to a safer, more transparent marketplace environment.