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Bank robbery and banking transactions

8 August 2006, 18:00 PM
LETTERS TO THE EDITOR
By Shahbaz Khan, Canada
8 August 2006, 18:00 PM
I have been reading numerous reports in Bangladeshi newspapers on looting of cash money from staff members, managers, accountants, and payroll officers of companies while they were taking large sums of cash either to deposit to their banks or to bring the same to their company premises for payment of salaries to their employees. I find this practice of carrying large sums of cash in any shape of form in broad daylight an irresponsible act. Why does a company need to bring large sums of cash from their banks to the company office to pay salaries? Why can't they ensure that their employees all have bank accounts and transfer their salaries automatically to those accounts? Why can't they just provide a record of pay stub every two weeks or every month, whenever the salary is supposed to be paid to their employees?

The world has changed and so should the people of Bangladesh. Carrying large amounts of cash is not a safe proposition.

All transaction in the country, especially by large enterprises either for doing business or paying salaries, must be done automatically through bank accounts held by individuals or other companies. This way, it would eliminate the need for holding or carrying cash. These risky and irresponsible practices by individuals or companies in Bangladesh are creating the ideal conditions for robbery. Why is it difficult for the Bangladeshi banking sector to promote mass opening of bank accounts for all citizens so that they no longer need to carry cash unless they simply have to and carry a plastic card that is connected to the national and international automatic transaction network?

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