Dhaka, Sep 08 (V7N) — The Bangladesh Bank has removed the limit on cash withdrawals from bank accounts, allowing customers to withdraw any amount of money from Sunday, according to a statement made by the central bank's spokesperson and executive director, Majbaul Haq, on Saturday.

Haq confirmed that from Sunday onwards, the restriction on maximum cash withdrawal has been lifted, providing customers with the freedom to withdraw any amount they wish. The decision comes after weeks of progressively increasing withdrawal limits, which were initially put in place following the fall of the Awami League government during the student-led movement.

In the preceding weeks, the withdrawal limit was raised incrementally. Last week, the limit was set at Tk 5 lakh per account, following a limit of Tk 4 lakh the week before. The withdrawal limit had initially been reduced to Tk 1 lakh on August 8, and then gradually increased to Tk 3 lakh on August 17.

The restrictions were originally introduced to prevent money laundering and safeguard financial stability during the political crisis. Additionally, the bank accounts of several businessmen and politicians involved in alleged financial crimes had been frozen or suspended.

Majbaul Haq noted that while security concerns played a role in the decision to limit withdrawals, the situation has now stabilised, allowing for the removal of these restrictions.