Finance Minister Amir Khosru Mahmud Chowdhury on Tuesday expressed his firm confidence that the trend of circulating counterfeit notes in the country will be effectively addressed through a combination of strengthened legal frameworks, improved security features, and coordinated institutional efforts.
“A draft law to prevent the circulation of counterfeit notes is under process for approval,” he said in response to a notice on matters of public importance under Rule-71 placed by ruling party lawmaker Md Jalal Uddin on concerns linked to the new bank notes and counterfeit notes.
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The minister said the proposed law includes provisions for stringent punishment against all those involved in producing counterfeit notes or imitating genuine currency.
“Once the law is enacted, it will play a decisive role in curbing and ultimately eliminating the circulation of counterfeit notes in the country,” Khosru said.
Emphasising future steps to rein in the trend of circulating counterfeit notes, he said Bangladesh Bank continues to upgrade security features by incorporating modern technologies and ensuring adequate supply of quality notes.
The minister said the government is addressing both policy and technical aspects to tackle the issue.
He noted that any technical concerns raised will be examined in consultation with the governor of the Bangladesh Bank. “If any gaps are found upon examination, necessary steps will be taken to address them,” he said.
Khosru highlighted that a new series of banknotes has already been introduced featuring designs inspired by Bangladesh’s historical heritage and architectural landmarks.
These designs were prepared with the involvement of renowned local artists and recommended by the Currency and Coin Design Committee of Bangladesh Bank, later approved under Article 27 of the Bangladesh Bank Order, 1972, he said.
The minister added that the new notes incorporate enhanced and modern security features compared to the previous series, and the public has been informed through the media and the central bank’s website.
On currency management, he said note printing is carried out in line with economic indicators such as GDP growth, inflation, and the rate of withdrawal of unfit notes.
Khosru also reiterated the government’s commitment to protecting the integrity of the national currency through robust legal, technological, and administrative measures.