Banking Sector

[Kamikaze]

Banking sector may face mergers and acquisitions after the pandemic

The government should think of going for or allowing Mergers and Acquisitions (M&A) for bringing efficacy and efficiency in the banking sector where needed. Everything has to be done quickly, it will be difficult to have a strong banking sector if it is too late

In Bangladesh, the concept of Mergers and Acquisitions (M&A) deals is relatively new but it is common in other parts of the world.

Theoretically, mergers and acquisitions (M&A) are defined as consolidation of companies. While mergers refer to the act of combining two companies to form one, acquisitions is the process by which one company is taken over by the other.

M&A is one of the major aspects of the corporate finance world. The reason behind M&A is that two separate companies together create more value compared to one. With the objective of wealth maximisation, companies keep evaluating different opportunities through the route of merger or acquisition.

In recent times, we have noticed a few large acquisitions in Bangladesh.

For example, CEMEX Cement Bangladesh was acquired by Siam City Cement of Thailand, the local Philips and Pepsi businesses were acquired by Transcom, significant shares of City Cell were acquired by SingTel, and AKTEL shares by NTT DoCoMo. Bangladeshi banks did not experience M&A, but the need for such thinking cannot be overruled considering the near future.

As we know, the global pandemic has caused serious damage to the economy of Bangladesh. The participation of the banking sector as a catalyst to overcoming the crisis, reviving stagnant economic activities and transferring liquidity to the people who do not have any income now has become vital.

By this time, the prime minister has announced an incentive of around Tk 1 lakh crore and the major responsibility of implementing the financial incentive has been on the banks and financial institutions and as such they have already started working in accordance with the instructions of the central bank.

Some of the ongoing and forthcoming challenges of the banking sector:

a) The banking sector has been overburdened with the classified loans for long. According to Bangladesh Bank, Tk 9 lac 69 thousand and 62 crore has been disbursed as loan from the banking sector till September 2019. Of this, 1 lakh 18 thousand 26 crore taka has defaulted, which is 11.99 percent of the total disbursed loan. According to IMF, as of June 2019, the total amount of problem assets in the banking sector stands at a staggering Tk 2 Lac 40 thousand 1 hundred and 67 Crore, which is really alarming. When defaulted loans increase, capital deficit naturally increases.

b) Some of the banks are facing the problems of capital shortfall. At the end of September 2019, 12 banks had a capital deficit of Tk16 thousand 60 crore. Besides, the incremental rise in classified loans is adding more pressure on the banks over the time and if the situation prevails, some of them will barely survive. BASIC Bank Limited and Padma Bank Limited have somehow managed to survive under special protection from the government, otherwise they would not have been in existence.

c) The bank management faces unwanted interference of the board with regards to sanctioning of loans, selecting clients, recruiting employees, purchasing material assets and in almost every major operational issue of the banks. Sometimes this sort of unwarranted practice propagates unfavourable working environments and induces loans to get classified later. The lack of good governance and presence of inefficiency in running the operations is holding back the banks - both in public and private sectors.

d) Recently the government has fixed the interest rate on banks at 9 percent from April this year. Meanwhile, banks have been asked to suspend interest rates for two months to reduce losses of businesses during the pandemic. The ABB has calculated that because of the suspension of interest for two months and re-fixation of interest to 9 percent, the banking sector will lose around Tk15,000 crores this year. And the government will also be deprived of tax revenue of around Tk750 crore. With that, since businesses are mostly closed, banks will not be able to earn commission income. In this situation, bankers think that small banks will lose an average of Tk20/25 crore and the big ones will lose about Tk150 to 200 crores this year.

e) The banks have a new challenge to meet following the Covid-19 pandemic as the major implementation of the government stimulus will be done by the banks. This may put the banks under extra pressure of loan defaults as some clients have a habitual propensity to default on loans, especially since it is from the government package. The banks have called for a Loan Risk Guarantee Scheme from the state, but no clear decision has been made by the government. There are many pros and cons to this but the main thing is that the risk of the bank remains. Moreover, now there will be no new debt collection resulting in more effect on the income of the bank. All in all, the problem in the banking sector will be more obvious. Due to corona, there is no scope to take any action against the defaulters.

f) The banking sector was in turmoil even before the coronavirus pandemic hit the country. The bank's deposit has been declining for a long time, it will drop further as now no one is going to keep money in the bank but is going to withdraw instead. All in all, the banking sector is likely to face a kind of liquidity crisis in the near future, though not now, because money flow has increased in the market now following the monetary policy concessions of the central bank. Now the deposit growth is negative from the small depositor's side.

Some recommendations for sustainability

a) Bangladesh Bank in consultation with the government can take aggressive punitive measures against the intentional default customers and recover the banks' money. Passport cancellation of defaulters can be an exemplary punishment if they do not pay back the loan.

b) During this pandemic it is necessary to pay careful attention to the flow of money, the recovery of defaulted loans and taking proper guards so that new loans do not become defaulted.

c) Banks need to reduce their operating costs by at least 40 percent. In particular, the salaries of top officials, including CEOs, should be reduced by 50 per cent during these emergencies. Staff layoffs will be unbearable for the economy.

d) Existing good clients can be a priority in giving the loans under the government's stimulus package and then some steps can be overlapped while sanctioning so the process is accelerated and expedited. Side by side, new customers can be addressed so that money flow into business starts fast.

e) A commission can be formed to suggest policies with regards to lessening the classification, defining classification as per global standards, ensuring corporate governance, efficiency, inclusiveness and holding the banking sector to international standards, and meeting the criteria of SDGs.

f) Single borrower credit limit should be re-fixed to a lower level to lessen the risk.

Moreover, the government should think of going for or allowing Mergers and Acquisitions (M&A) for bringing efficacy and efficiency in the banking sector where needed. Everything has to be done quickly, it will be difficult to have a strong banking sector if it is too late.

The author is an Economics Analyst, Founder and CEO of Finpower Leadership International

[Joel Ahmed]

https://www.tbsnews.net/economy/banking/banks-show-high-profit-its-not-real-288301#.YRfz6UBZwQg.facebook

Ahsan Habib Tuhin & Jebun Nesa Alo

14 August, 2021, 10:45 pm

Last modified: 15 August, 2021, 10:40 am

Banks show high profit, but it’s not real 

In the six months, 10 out of listed 30 banks suffered negative cash flow of Tk4,900 crore

 

Banks appear to have attained high profits even amid the pandemic-led crisis, but negative cash flow reflects a rainy day looming on the horizon for them as their profits exist only on paper with no real income. 

For instance, Eastern Bank, one of the top performing banks in the country, has experienced a 55% profit growth in the first half of the current year although it has been running with negative cash flow.

The situation is the same for many banks that have shown a high profit growth with negative cash flow in January-June this year

In the six months, 10 out of listed 30 banks suffered negative cash flow of Tk4,900 crore. 

Bankers have attributed the negative cash flow mainly to payment deferral. 

Nevertheless, banks are recording interest income in their accounts despite not receiving payments. This accrual accounting method is helping banks show high profits, they add. 

Accrual accounting refers to the recording of revenue or expenses when they are earned, regardless of when the money is actually received or paid.

The adoption of such an approach will have some negative impacts on banks.

Firstly, banks are disbursing dividends by taking unrealised interest incomes into account, which will ultimately deteriorate their financial health in the future. Because it is uncertain whether banks will finally be able to realise those interest incomes.

Secondly, negative cash flow has kept banks away from lending activities, a core business for them, resulting in a pile of excess liquidity with low private sector credit growth. 

The private sector credit growth was 8.40% in the last fiscal year, far below the monetary target of 14.8% when excess liquidity almost doubled in the last one year and stood at Tk2.39 lakh crore in June this year, according to Bangladesh Bank data. 

Presuming unforeseen losses, the Bangladesh Bank issued a dividend policy last year to discourage disbursements of cash dividends.

But the policy had little effect as most private commercial banks did not compromise on cash dividend payout last year. 

In fact, they disbursed higher cash dividends for 2020 than that of the previous year, keeping directors happy.

Out of 31 private banks listed on the Dhaka Stock Exchange, 22 have disbursed cash dividends for 2020. 

The total cash dividend payout by these banks stands at around Tk2,300 crore for pandemic-hit 2020, of which around Tk1,000 crore will go to the directors' pockets.

The high profitability continued this year also as borrowers have been enjoying payment deferral, which gave banks relief from maintaining a provision against default loans. 

Negative cash flow is not a concern at this moment, but it will put banks into trouble if negativity prolongs, said Syed Mahbubur Rahman, managing director of Mutual Trust Bank. 

Payment deferral period has been in force for one and a half years, which caused negative cash flow, he also said. 

M Reazul Karim, managing director of Premier Bank, told The Business Standard, "In the first six months of this year, our bank had Tk3,000 crore in excess liquidity. So we are discouraging new deposits.

"We are taking money from the call money market as its rate is lower than that of deposits. We have increased investment too," he added.

The bank is lending more to the export-oriented textile sector alongside investing in government securities, he said, adding that they are giving loans to many textile mills that are going for expansion even in this pandemic time. 

"I think it is better to have a negative operating cash flow at this time of excess liquidity, meaning that bankers are increasing investments," Rezaul pointed out.

According to the first-half reports of this year of listed banks published through the stock exchanges, the net operating cash flow of Exim Bank was the worst - negative Tk1,053 crore.

The bank has invested Tk2,038 crore against its deposit collection amounting to Tk906 crore.

The managing director of Exim Bank could not be contacted for comments. 

Abdullah Al Mamun, company secretary at Eastern Bank, said a bank usually raises funds in two ways – by borrowing from another institution and collecting deposits from customers. Only the deposits received in the first half of this year have been shown in the balance sheet. The collection of preceding quarters are usually not added to it. And in the first half of this year, their loan disbursements have been more than deposits. 

So, the operating cash flow has been negative. The bank remedy the negative cash flow by raising funds from other sources, he added.

However, he also said this negative cash flow in the long run is not good for a bank.

Eastern Bank invested Tk1,145 crore during the period, but it did not take any deposits during that time. The bank maintained its operating cash flow by borrowing from other financial institutions.

"We are trying to increase risk-free investment in the pandemic. We are investing in government securities and bonds and are also giving loans to the housing sector," said the Eastern Bank's company secretary. 

In January-June this year, the net operating cash flow was negative Tk992 crore in United Commercial Bank, Tk882 crore in Eastern Bank, Tk729 crore in AB Bank, and Tk571 crore in Premier Bank.

[Joel Ahmed]

 

Sales of savings tools triple

 ARAFAT ARA | Published:  August 22, 2021 08:27:02 | Updated:  August 22, 2021 08:30:52

The government's net borrowing through the national savings instruments more than doubled in the fiscal year (FY) 2020-21 than that of the FY's target, according to the official statistics.

The Department of National Savings (DNS) disclosed recently that the net sales of national savings certificates stood at Tk 419.59 billion in the last FY against a target of Tk 200.00 billion.

The net sales of the instruments were nearly three times higher in the last FY than that of the previous FY's Tk 144.28 billion, data showed.

Officials said the savers have invested more in these savings schemes due to lucrative yield rates.

Many of them even borrowed money from the banks and invested in the instruments as the yield rates were higher than the interest rates on bank loans, said an official at the DNS.

He also pointed out that a significant number of savers had reinvested in savings instruments after maturity of their previous investments which is another reason behind the increased sales in the last FY.

The government sells savings instruments, including four types of savings certificates, with the yield rates up to 11.76 per cent.

In contrast, the banks are providing interest rates on deposits up to 5.50 per cent while charging the lending rates up to 9.0 per cent.

The interest rates vary depending on banks and bank-client relationship, insiders have said. Some banks were offering even 6.0 to 7.0 per cent lending rates, they added.

Talking to the FE, Salma Begum, who invested in the Family Savings Certificate, said she had no alternative but to buy a savings certificate as other sectors, including banks, were not attractive for investing her money.

"A substantial part of my family expenses comes from the proceeds of the savings certificates," she said.

Another saver, Farid Ahmed, said he could not start any small venture due to the Covid-19 pandemic. So, investing in savings certificates was the better option for him to earn something in such a difficult time.

When contacted, officials said that the DNS has no plan at this moment to cut the yield rates on savings tools, especially on savings certificates.

The government is considering the financial security of small savers, who are struggling hard to survive because of the pandemic, they said.

Meanwhile, the DNS in 2019 started taking necessary preparations to automate its services which are expected to complete by 2024. Then the clients are expected to get online services.

Currently, the taxpayers identification number (TIN), and national identification (NID) number are mandatory for purchasing the savings certificates.

Apart from the savings schemes, the DNS sells different types of bonds to local and expatriate Bangladeshis.

Around 20 million investors are involved in this sector, DNS officials said.

[Joel Ahmed]

https://www.dhakatribune.com/business/2021/08/30/savings-certificates-sales-triples-due-to-low-bank-deposit-rates

Savings certificates sales triples due to low bank deposit rates

 Meraj Mavis

 Published at 08:41 pm August 30th, 2021

The latest DNS data shows that the highest net sales in FY2020-21 were Tk5,215 crore in January

 

• Total sales Tk1,12,188 crore in FY2020-21
• Net sales in January and June were Tk5,215 crore and Tk4,584 crore respectively
• FY2019-20 net sales were Tk14,428 crore
• FY2020-21 net sales were Tk42,000 crore

The sale of savings certificates almost tripled in a year. Experts believe that this is largely due to the pandemic and low bank deposit rates.

According to the latest data from the Department of National Savings (DNS), after a lukewarm performance in FY2019-20, savings certificates with a net worth around Tk42,000 crore were sold in FY2020-21, which was a net Tk14,428 crore in the last year.

Meanwhile, the second-highest sales of savings certificates were in June, the last month of the fiscal year 2020-21. 

According to DNS data, the government has collected Tk1 lakh 12,188 crore from savings certificates in the outgoing 2020-21 financial year. At the same time, Tk70,227.70 crore has been paid for the profit of the savings certificates sold. 

As such, the net debt of the government from the savings certificate of the last financial year is Tk41,959.54 crore. This net is calculated by deducting the profit from the total sales and the amount paid for the original.

Speaking to Dhaka Tribune, AB Mirza Azizul Islam, economist and financial adviser to the former caretaker government said: “Amid the pandemic, savings certificates provide a better investment option than bank deposits. Because of the lower yield on banks saving deposits, it may happen.”

“The Bangladesh Bank already made a decision that deposit interest shouldn’t go below the inflation rate. Time will say whether people get interested in bank deposits again or not,” he added.  

However, there still remains a level of disparity as ordinary investors receive a certain interest on savings certificates, while ministers, MPs and other VIPs also receive the same interest. “The government should address this disparity to boost more sales,” the economist added.

Ahsan H Mansoor, executive director of the Policy Research Institute (PRI), a private research institute, told the media that, due to the self-interest of the policymakers, the people have to bear the high burden of interest on savings certificates every year. 

Speaking of the poor and the elderly, this high interest is being maintained.

“However, our research has shown long ago that billionaire customers are the main beneficiaries of high-interest rates on savings certificates,” he added.

The latest DNS data shows that the highest net sales in FY2020-21 were Tk5,215 crore in January.

Data analysis shows that taxpayers' identification number (TIN) certificate was made mandatory for purchase over Tk1 lakh from July 2019. However, the minimum bar for purchase with a TIN certificate has been raised from Tk1 lakh to Tk2 lakh in the current FY2021-22.

While a 5% source tax on profits of the savings certificates was also introduced, if the investment was more than Tk10 lakh, the source tax becomes 10%. Having a bank account was also made mandatory.

After that, the sales of savings certificates began to decrease. But in the last financial year, it went up again.

[Joel Ahmed]

https://thefinancialexpress.com.bd/stock/bangladesh/eastern-banks-net-profit-grows-55pc-amid-pandemic-1630378479

Eastern Bank's net profit grows 55pc amid pandemic

 SIDDIQUE ISLAM | Published:  August 31, 2021 08:54:39 | Updated:  August 31, 2021 11:04:05

Eastern Bank Limited (EBL) has registered 55-per cent growth in net profit in the first half (H1) of this calendar year amidst the Covid-19 pandemic.

This growth has been ascribed to efficient management of its balance sheet complying with all the key regulatory requirements of liquidity.

The bank's operating profit grew over 31 per cent to Tk 4.88 billion during the January-June period of 2021 from Tk 3.71 billion in the same period last year.

In the meantime, its operating income rose more than 18 percent to Tk 8.32 billion from Tk 7.03 billion.

Net interest income (NII), the core component of operating income of a bank, of this lender grew 21 per cent in H1 of 2021 over that of H1 in 2020.

It appears at the top of the income statement.

On the other hand, operating profit is the result of operating income (NII and other revenues like investment and fees) less operating expenses.

However, EBL's net profit, officially known as profit after tax, jumped nearly 55 per cent to Tk 2.44 billion in H1 of 2021 despite a lower demand for credit due to Covid-19.

It was Tk 1.58 billion a year ago.

Credit growth, particularly in the private sector, has maintained a falling trend in recent months for the ongoing second wave of the pandemic in Bangladesh.

Private-sector credit growth rose to 8.40 per cent year on year in June 2021 from 7.55 per cent a month ago.

The growth was 8.79 per cent in March 2021.

It was 6.40-percentage point lower than the Bangladesh Bank (BB)'s target of 14.80 per cent for the second half of fiscal year 2020-21.

“Actually, the private commercial bank (PCB) has been able to reduce its cost-to-income ratio through rationalising operational expenses”, according to EBL chief financial officer Masudul Hoque Sardar.

The bank's ratio came down to 41 per cent in the first six months of 2021 from 47 per cent in the same period of 2020.

Such ratio is important for determining the profitability of any bank or financial institution. It is calculated by dividing the operational expenses by the operating income generated.

On the other hand, deficit net operating cash flow of the EBL dropped by over 23 per cent or Tk 2.71 billion to Tk 8.83 billion in H1 of 2021 from Tk 11.54 billion in the same period of 2020.

Deficit of consolidated net operating cash flow per share was Tk 9.25 for H1 of 2021 against last year's Tk 12.10 in the same period, according to the bank's data.

Negative cash flow does not mean that the EBL is facing a liquidity shortfall, rather indicates that it has funded loans by borrowing from other sources instead of deposits in this period under review.

"It is not the negative operating cash flow, but consistent compliance with all the key liquidity ratios by EBL indicate its true strength in liquidity," Mr Sardar told the FE while explaining the overall liquidity situation of the PCB.

EBL deputy managing director Mehdi Zaman said, "Our core deposit decreased slightly during the period under review because of withdrawing a significant amount of high-cost fixed deposits, particularly double return deposit schemes."

The EBL has funded loans by borrowing from other sources instead of deposits to ensure maximum return from investments, he tells the FE.

"We've a strong footing on our capital base," the senior banker says, adding that they have enough buffers to withstand minor-to-moderate shocks.

Meanwhile, the EBL has been able to manage all the regulatory liquidity ratios in line with Basel-III framework excepting net stable funding ratio (NSFR) during the period in question.

The second-generation PCB maintained liquidity coverage ratio at 143.10 per cent against minimum requirement at 100 per cent in H1 of 2021 while the NSFR was 94.30 per cent instead of 100 per cent.

Besides, the EBL's advance-deposit ratio (ADR) stood at nearly 80 per cent during the period against the regulatory maximum ceiling of 87 per cent, meaning it has still room to grow as far as ADR is concerned.

The BB earlier set the safe limit of ADR at 87 per cent for conventional banks and at 92 per cent for Sharia-based Islamic banks.

The EBL is very much aware of following good governance and compliance culture to ensure world-class banking services through continuous improvement in customers' experience, according to Mr Sardar.

[Joel Ahmed]

https://www.tbsnews.net/economy/banking/padma-bank-seeks-merger-any-state-owned-bank-295630

TBS Report

31 August, 2021, 02:00 pm

Last modified: 31 August, 2021, 02:04 pm

Padma Bank seeks merger with any state-owned bank

 

The Padma Bank, formerly known as Farmers Bank, now wants to merge with a state-owned bank - within just three years of revival from a failed institution because of massive irregularities and corruption.

The bank's managing director submitted a merger proposal to the finance ministry on 8 July. The Business Standard has obtained a copy of the letter.

They proposed a merger with any of the five banks - Sonali Bank, Janata Bank, Agrani Bank, Rupali Bank and BDBL.

The Farmers Bank became a hotbed of lending anomalies in less than a year after its formal inception in 2013, making general depositors the sufferers.

More than Tk3,500 crore was siphoned out from the bank, according to the Bangladesh Bank.

Against the backdrop of loan scams and other financial irregularities, Sonali Bank, Agrani Bank, Janata Bank, Rupali Bank and ICB Bank bought most of the shares of Farmers Bank in 2018 in a government intervention to salvage it from drowning.

The name of the bank was changed to Padma Bank in January next year in an effort to recover its image.

In an interview with The Business Standard in December 2019, former Finance Minister AMA Muhith said that giving a new lifeline to Farmers Bank was not a right decision.

The veteran minister then said he had to act on Farmers Bank because of political pressure.

"The bank was set up by Mohiuddin Khan Alamgir, and he left it in good time. But (by that time) whatever had happened had happened. The bank was subjected to looting. It was finished," said Muhith.

"There is no need to rename it Padma Bank – instead it should be merged with another bank," the former minister said in 2019.

[Joel Ahmed]

https://www.dhakatribune.com/business/2021/09/02/ncc-bank-announces-new-chairman-and-vice-chairman

NCC Bank announces new chairman and vice-chairman

 Tribune Desk

 Published at 08:57 pm September 2nd, 2021

The board of directors elected the duo on Thursday

The board of directors of NCC Bank Ltd has elected Md Abul Bashar as chairman and Tanzina Ali as vice-chairman of the bank on Thursday, according to a press release.

Md Abul Bashar started pursuing his family business endeavours with Prime Group of Industries shouldering its responsibilities holding a position as the deputy managing director for over 20 years.

He is also the managing director of the recycling division of the group and Prime Finance Consultants and Equities Ltd.

He was previously served as vice-chairman and chairman of the audit committee of the bank.

He was a director on the board of Bangladesh Textile Mills Association (BTMA), a member of the executive committee of Bangladesh Association of Publicly Listed Companies (2014-2015) and a member of the Executive Committee of Bangladesh Employers Federation (2015-2016). 

He is the founder and secretary-general of “Prime Doleshwar Sporting Club”, a leading Dhaka Premier Division Cricket Team in Bangladesh.

The newly elected vice-chairman Tanzina Ali was born in Chittagong and later completed her graduation in Finance from Bryant University, USA.

She engaged herself in various training and workshops abroad to enhance professional competency.

After coming back from the USA, she held an important role in various foreign & local organizations. 

[Joel Ahmed]

https://thefinancialexpress.com.bd/bn/বাংলাদেশের-স্মারকনোট-ও-মুদ্রাকথন-1660213047

বাংলাদেশের স্মারকনোট ও মুদ্রাকথন

 মেহেদি হাসান | Published:  August 11, 2022 16:17:27 | Updated:  August 12, 2022 12:25:35

কেন্দ্রীয় ব্যাংক জাতীয় ও আন্তর্জাতিক বিভিন্ন ঘটনা, স্থান ,ব্যক্তি, প্রতিষ্ঠান বা কোনো জয়ন্তীকে স্মরণীয় করে রাখতে মাঝেমধ্যে কিছু প্রতীকী নোট বা মুদ্রা অবমুক্ত করে। এগুলো স্মারক নোট বা মুদ্রা হিসেবে অভিহিত। স্মারক নোটেও বাংলাদেশ ব্যাংকের গভর্নরের সাক্ষর থাকে। অন্যান্য ব্যাংক নোটে ‘চাহিবামাত্র ইহার......দিতে বাধ্য থাকিবে', লেখা থাকলেও স্মারক নোটে থাকে ‘বিনিময় যোগ্য নয়'।

বাংলাদেশ ব্যাংকের ডিপার্টমেন্ট অব কারেন্সি ম্যানেজমেন্ট স্মারক নোট বা মুদ্রা প্রকাশ করে থাকে। প্রচলিত ব্যাংক নোটের মান যেখানে ১০০, ২০০, ৫০০, ১০০০ প্রভৃতি সেখানে স্মারক নোট বা মুদ্রার মান ১০, ২৫, ৪০, ৬০, ৭০ ইত্যাদি। বাজারে প্রচলিত মুদ্রার থেকে স্মারক মুদ্রা বা নোটকে আলাদা করতে সাধারণত এর মান অনিয়মিত রাখা হয়। তবে কেন্দ্রীয় ব্যাংক কয়েকটি প্রচলিত মানের স্মারক নোটও অবমুক্ত করেছে। 

বাংলাদেশ ব্যাংক প্রথম স্মারক মুদ্রা অবমুক্ত করে ১৯৯১ সালে। বিজয়ের ২০তম জয়ন্তী উপলক্ষে ১ টাকার রূপার মুদ্রা অবমুক্ত করা হয়। এটি ছিল ১ টাকার (ফাইন সিলভার) কয়েন। পরের বছর ’৯২ সালে অলিম্পিক গেমসের ২৫তম আসর উপলক্ষে একই মানের রূপার মুদ্রা অবমুক্ত করা হয়েছিল। 

এরপরে ১৯৯৬ সালে বাংলাদেশ ব্যাংক এবং স্বাধীনতার রজত জয়ন্তী উপলক্ষে আলাদা আলাদা স্মারক মুদ্রা ১০ টাকার (ফাইন সিলভার) কয়েন প্রকাশ করা হয়। ১৯৯৮-তে বঙ্গবন্ধু সেতুর উদ্বোধন উপলক্ষে ১০ ও ২০ টাকা মূল্যের স্মারক মুদ্রা প্রকাশ করে কেন্দ্রীয় ব্যাংক। প্রথমটি ছিল একশ শতাংশ নিকেলের। পরেরটি ৯০ শতাংশ ফাইন সিলভার এবং ১০ শতাংশ নিকেলের।  

২০০০ সালে বাংলাদেশ ব্যাংক প্রথম ২২ ক্যারেট স্বর্ণের স্মারক মুদ্রা অবমুক্ত করে। আন্তর্জাতিক মাতৃভাষা দিবস উপলক্ষে ২০ টাকার মুদ্রা প্রকাশ করা হয়। এরপরে প্রায় এক দশক বাংলাদেশ ব্যাংক কোনো স্মারক নোট বা মুদ্রা প্রকাশ করেনি। ২০১১ তে মোট ৫টি স্মারক নোট বা মুদ্রা প্রকাশ করা হয়।  

আইসিসি ক্রিকেট বিশ্বকাপ, রবীন্দ্রনাথ ঠাকুরের ১৫০তম জন্মজয়ন্তী এবং কাজী নজরুল ইসলামের ‘বিদ্রোহী’ কবিতা প্রকাশের ৯০তম বছর উপলক্ষে ১০ টাকা মূল্যের (ফাইন সিলভার) আলাদা আলাদা মুদ্রা প্রকাশ করা হয়। বিজয়ের ৪০ বছর পূর্তি উপলক্ষে ৪০ টাকার (ফাইন সিলভার) মুদ্রা এবং ৪০ টাকার কাগুজে নোট প্রকাশ করে বাংলাদেশ ব্যাংক।

পরের বছর ভাষা আন্দোলনের ৬০ বছর পূর্তি উপলক্ষে ৬০ টাকার নোট প্রকাশিত হয়। ২০১৩ সালে দ্য সিকিউরিটি প্রিন্টিং কর্পোরেশন (বাংলাদেশ) লিমিটেড-এর ২৫ বছর এবং জাতীয় জাদুঘরের শতবছর পূর্তি উপলক্ষে ২৫ ও ১০০ টাকা মূল্যের স্মারক নোট প্রকাশ করে বাংলাদেশ ব্যাংক। ২০১৮-তে বাংলাদেশ স্বল্পোন্নত দেশ থেকে উন্নয়নশীল দেশে উন্নীত হওয়া উপলক্ষে ৭০ টাকার নোট এবং ২০২০-য়ে জাতির পিতার শততম জন্মজয়ন্তী উপলক্ষে ১০০ টাকার নোট প্রকাশ করা হয়। ২০২১ সালে স্বাধীনতার সুবর্ণ জয়ন্তী উপলক্ষে ৫০ টাকার নোট এবং সর্বশেষ এ বছর ২০২২-য়ে পদ্মাসেতুর উদ্বোধন উপলক্ষে ১০০ টাকার স্মারক নোট প্রকাশ করেছে বাংলাদেশ ব্যাংক। 

স্মারক নোট বা মুদ্রার অভিহিত মূল্য এবং বাজার মূল্য কিন্তু সবসময় এক নয়। ১০ টাকা মূল্যের ফাইন সিলভার কয়েনগুলো সাধারণ ৩৫০০ টাকায় বিক্রি করা হয়। সোনার কয়েনগুলোর বিক্রয়মূল্য বাজারে সোনার দামের সাথে ওঠানামা করে। স্মারক নোট ফোল্ডার হিসেবে বিক্রি হলে খানিকটা বেশি দাম দিয়ে কিনতে হয়। 

বাংলাদেশ ব্যাংকের সকল শাখার ক্যাশ বিভাগের নির্দিষ্ট কাউন্টারসহ বাণিজ্যিক ব্যাংকগুলো থেকে স্মারক নোট বা মুদ্রা নগদ অর্থের বিনিময়ে সংগ্রহ করা যায়। বাংলাদেশ ব্যাংক এবং এর টাকা জাদুঘর পরিদর্শনে আসা অতিথিদের কেন্দ্রীয় ব্যাংকের পক্ষ থেকে স্মারক নোট বা মুদ্রা উপহার দেওয়া হয়। বিশ্বের বিভিন্ন মুদ্রা জাদুঘরে বাংলাদেশের স্মারক নোট ও মুদ্রা প্রদর্শিত হয়।

সব স্মারকনোট ও মুদ্রা অবিনিময়যোগ্য। তাই এদের স্থান শুধু শৌখিন সংগ্রাহকের সংগ্রহশালায়। 

মেহেদি হাসান বর্তমানে ঢাকা বিশ্ববিদ্যালয়ের গণযোগাযোগ ও সাংবাদিকতা বিভাগের তৃতীয় বর্ষে অধ্যয়নরত।

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