The authorities concerned are facing an embarrassing situation following a rumour over exchange of existing circulated coins, sources said.
A problem has arisen over transactions of coins across the country. The central bank has received a lot of allegations against branches of scheduled banks that they are reluctant to receive coins and mutilated notes from clients.
Besides, a dishonest syndicate is collecting coins at reduced prices from the people, saying that existing coins will be taken out of circulation soon, they mentioned.
The BB is trying its best to remove the complexities over exchange of coins and rumours spreading by a group of dishonest people, a central bank official said.
However, the BB in November last year issued a circular, asking all banks to receive coins from clients.
Scheduled banks will be fined for their refusal to accept coins from their clients during transactions, according to another circular issued on January 11 last.
It said the central bank took the decision aiming to ensure regular and smooth transactions.
The circular said newspaper reports along with personal and over-the-call complaints had revealed that banks were not accepting coins from their clients.
Moreover, the central bank has published advertisement in different dailies which is continuing, the sources said.
In the second week of this month, the BB has sought cooperation from the finance ministry to take up awareness building programmes on coins through its district commissioners, print and electronic media across the country.
The government is planning to launch awareness programmes with a view to resolving the existing problem over circulated coins, a finance ministry official said.
"We have got a letter from the BB for launching awareness programmes to dispel rumours about exchange of coins. The ministry of finance has started work in this regard," he told the FE.
Recently, problems have arisen in different areas of the country over exchange of existing coins. People also don't receive these coins. As a result, the government plans to launch awareness programmes on exchange of speedy circulation, he added.
A dishonest syndicate is taking coins in reduced prices from the people, saying that the existing coins will be cancelled in future. The coins being collected by the syndicate are making significant profit through exchanging to the country's scheduled banks including Bangladesh Bank (BB), officials concerned of the BB said.
Under such circumstances, clients are reluctant to take the coins and they are thronging different scheduled banks including the central bank and depositing their coins, they added.
"Presently, a rumour circulating in the market has been created centring the circulated coins that is going on. It takes time to remove from a society if a rumour spreads," Executive Director of BB Subhankar Saha told the FE on Thursday.
The BB has already taken necessary steps to deal with the issue over coin. More initiative will be taken if necessary, he added.
At present, there are 80 crore pieces of Tk 5 coins in the country, he also said.
Tk 1, Tk 2 and Tk 5 notes and coins are now government currency. Notes and coins of Tk 5 denomination, issued by the Bangladesh Bank, have been replaced as government notes and coins last year.
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