Banks and financial institutions to remain closed on February 11–12 for election and referendum

Staff Report, PNN 

Ahead of the 13th National Parliamentary Election and referendum on February 12, all scheduled banks and financial institutions across the country will remain closed on February 11 and 12. Bangladesh Bank has issued directives in this regard.

The central bank’s Supervisory Data Management and Analytics Department (SDAD) and Financial Institutions and Market Division (DFIM) confirmed the matter through separate notices. The notices stated that following the Executive Order of the Ministry of Public Administration, these holidays aim to ensure smooth voting and facilitate voters in exercising their franchise.

According to Bangladesh Bank, under the Bank Companies Act, 1991, Section 45, all scheduled banks will remain closed on February 11 and 12. Similarly, under Financial Institutions Act, 2023, Section 41(2)(g), all financial institutions will suspend transactions on these two days.

Since February 13–14 are weekend holidays (Friday and Saturday), banking operations will be halted for four consecutive days. Customers are advised to complete urgent banking tasks by Tuesday.

Bangladesh Bank has already formally communicated these instructions to Managing Directors and CEOs of all scheduled banks and financial institutions.

Even though banks are closed, mobile financial services (bKash, Nagad, Rocket), POS systems, and online transactions will remain operational. Businesspeople and customers have started completing important transactions such as check clearance and LC in advance. Economists advise keeping sufficient cash on hand during this period.