Bangladesh Bank has announced a revised schedule for interbank cheque clearing and limited banking operations during the extended Eid-ul-Fitr holidays, aiming to ensure uninterrupted financial transactions across the country. The central bank’s Payment Systems Department (PSD-2) issued the notification on Thursday, highlighting measures designed to guarantee timely payment of wages, bonuses, and allowances to workers in the country’s key export sector—the ready-made garment (RMG) industry.
According to the circular, limited banking services will be available on 18 and 19 March in selected industrial areas where RMG transactions are concentrated. Designated branches in these regions will operate with a reduced workforce under enhanced security measures, enabling essential banking functions to continue safely.
The operational branches will primarily be located in Dhaka and surrounding industrial hubs, including Ashulia, Tongi, Gazipur, Savar, Valuka, Narayanganj, and key industrial zones in Chattogram. The RMG sector contributes over 80% of Bangladesh’s total export earnings and employs more than four million workers. During the pre-Eid period, large volumes of wage and bonus payments, along with other financial transactions, need to be processed promptly. Complete closure of banks could delay salary disbursements and complicate export settlement processes, making this special arrangement necessary.
Under the announced schedule, the working hours for bank offices on these two days will be from 10:00 am to 2:00 pm, with a short break for Zuhr prayers from 1:15 pm to 1:30 pm. General customer transactions will be served from 10:00 am to 1:00 pm.
Interbank fund transfers and cheque clearing will continue as usual through the Bangladesh Automated Clearing House (BACH), Real-Time Gross Settlement (RTGS), and Bangladesh Electronic Fund Transfer Network (BEFTN). This ensures smooth and rapid settlement of financial transactions among banks.
A dedicated clearing schedule has also been introduced for expedited cheque processing during Eid:
| Activity | Last Submission Time | Clearing Time |
|---|---|---|
| High-Value Cheque Clearing | 11:30 am | 12:30 pm |
| Regular-Value Cheque Clearing | 12:00 pm | 1:00 pm |
| RTGS Customer-Level Transactions | 10:00 am | 12:45 pm |
| Interbank Fund Transfer & Returns | 10:00 am | 1:00 pm |
The central bank has instructed all scheduled banks and Bangladesh Cooperative Bank Limited to ensure adequate security, maintain technological readiness, and provide uninterrupted service to customers.
Economic analysts note that financial pressure in the country’s industrial and commercial sectors spikes before Eid, particularly in the RMG sector due to mass wage and bonus disbursements. Maintaining limited banking services during this period is therefore essential to safeguard timely payments to workers while keeping the export sector’s financial flows active.