The Indonesian government, through the Ministry of Trade, has issued a cautionary notice to Indonesian business operators regarding trade transactions with Bangladesh. This advisory follows information communicated by the Indonesian Ambassador in Dhaka through letter Number B-00139/Dhaka/240822 concerning the economic situation in Bangladesh post the resignation of Prime Minister Sheikh Hasina and the anticipation of banking transactions. The letter highlighted that Bangladesh is experiencing a liquidity crisis, exacerbated by the central bank's cash withdrawal restrictions. This situation is coupled with an inflation rate of 11.66% and the highest currency exchange rate pressure in 12 years. Furthermore, the Bangladesh Power Development Board (BPDB) is facing a debt burden of BDT 45 thousand crore or USD 4 billion, which presents a critical issue for the newly formed interim government.
Director of Export and Import Facilitation at the Ministry of Trade, Iskandar Panjaitan, stated, "Considering the recent developments in Bangladesh, especially in the economic sector post the resignation of Prime Minister Sheikh Hasina, we urge Indonesian business operators to exercise caution in transactions with institutions or individuals from Bangladesh. We issue this advisory to prevent potential losses from banking transactions with Bangladesh due to the current political and economic conditions." Bangladesh Bank has instructed nine banks not to cash checks exceeding BDT 200 thousand or USD 1,680. These banks include Islami Bank Bangladesh, First Security Islami Bank, Social Islami Bank, Union Bank, Global Islami Bank, Bangladesh Commerce Bank, National Bank, Padma Bank, and ICB Islami Bank. Additionally, Bangladesh Bank has set a cash withdrawal limit of BDT 200 thousand or USD 1,680 per account per day to prevent the misuse of cash for illegal purposes.
