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Finance Minister Amir Khosru Mahmud Chowdhury has announced that robust legal frameworks, modern security technologies, and integrated institutional initiatives are being undertaken to curb the circulation of counterfeit notes in the country.
He made this statement on Tuesday (April 28) during a session of the Jatiya Sangsad (National Parliament) in response to a notice from Md. Jalal Uddin, Member of Parliament for Chandpur-2 constituency.
The Finance Minister informed that a draft law is currently being formulated to prevent the production and circulation of counterfeit notes. The proposed law will include stringent penalties for those involved in producing counterfeit notes or imitating genuine currency. He expressed hope that once implemented, the law will play a crucial role in controlling and eradicating counterfeit notes.
He stated that Bangladesh Bank is enhancing the security features of notes using modern technology and ensuring the supply of quality notes in the market. Furthermore, any technological issues will be reviewed and resolved in coordination with the Governor of the central bank.
Regarding the new design bank notes, the Finance Minister said that a new series of notes has already been launched, designed with inspiration from the country’s heritage and architectural works. These designs were created with the participation of renowned artists of the country and approved by the Bangladesh Bank’s Currency and Design Committee.
He further informed that the new notes incorporate enhanced and modern security features compared to previous ones. The public has been informed about these changes through media outlets and the Bangladesh Bank website.
On the other hand, MP Md. Jalal Uddin alleged in his notice that the risk of counterfeit note production has increased due to flaws in the design and shortcomings in the security features of the new notes. He also proposed the formation of a parliamentary committee to investigate the matter.