Bangladesh has unveiled new currency notes that will come into circulation. Critics of the Muhammad Yunus-led administration see it as an effort to wipe out the legacy of the 'Father of the Nation', Bangabandhu Sheikh Mujibur Rahman.
The new banknotes have dropped political figures, including Sheikh Mujibur Rahman. The redesigned currency note of 'Taka' features cultural landmarks and landscapes.
Since 1971, Sheikh Mujibur Rahman's image has featured on all currency notes.
Bangladesh authorities say the fresh move is a step towards depoliticising national symbols amid political tension. The banknotes will now include images of Hindu and Buddhist temples amidst concerns over minority rights in Bangladesh. Other artworks will also be featured on the notes.
The interim government led by Yunus had announced currency notes would be replaced with new themes incorporating the ‘historical and archaeological architecture of Bangladesh'.
“Bangladesh Bank governor Dr Ahsan H. Mansur, accompanied by Finance Adviser Salehuddin Ahmed, Law Adviser Asif Nazrul, Chittagong Hill Tracts (CHT) Affairs Adviser Supradip Chakma and Local Government Adviser Asif Mahmud Sajeeb Bhuiyan, handed over images of six newly designed banknotes to Chief Adviser Professor Muhammad Yunus following a meeting of the advisory council at the Chief Adviser's Office on Monday,” Muhammad Yunus's office said in a post on social media platform X.
Bangladesh Bank governor Dr Ahsan H. Mansur, accompanied by Finance Adviser Salehuddin Ahmed, Law Adviser Asif Nazrul, Chittagong Hill Tracts (CHT) Affairs Adviser Supradip Chakma and Local Government Adviser Asif Mahmud Sajeeb Bhuiyan, handed over images of six newly designed… pic.twitter.com/XBr6wQD2ul
Bangladesh Bank spokesman Arif Hossain Khan said that the new currency will feature landscapes and landmarks. "Under the new series and design, the notes will not feature any human portraits, but will instead showcase natural landscapes and traditional landmarks," Khan was quoted as saying by news agency AFP.
The central bank in Bangladesh, known as Bangladesh Bank, has released notes for three different denominations. This include currency notes for denominations of Taka 1000, Taka 50 and Taka 20. However, the bank has clarified that existing notes and coins in circulation featuring Sheikh Mujibur Rahman will remain in circulation alongside the new notes.
In April this year, an order by the Bangladesh interim government to halt the issue of currency notes featuring Father of The Nation, had led to the abrupt halt in issuing currency notes featuring leading to a shortfall of currency notes in circulation.
According to sources, Bangladesh Bank reports an annual demand for 1.5 billion new bank notes of different denominations. The country does not have the capacity to replace the existing currency notes, especially in the informal economy which forms around an estimated 40% of GDP of the country largely dependent on cash transactions.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
