Panic grips central bankers as 50 officials test positive for coronavirus
At least 50 officials of the Bangladesh Bank have tested positive for the novel coronavirus in a chilling development as the role of the central bank has emerged critical in insulating the economic climate from the pandemic and keeping the economy going.
The complete financial sector will face a severe crisis if the condition is spread further among the officials of the BB, said officials.
According to a written report of the Anwer Khan Modern Hospital, at least 50 officials of the central bank tested positive for the coronavirus. But the figure might be higher as much employees had their samples tested at other hospitals.
The situation compelled the Bangladesh Bank Officers' Welfare Council to submit a memorandum to the governor on June 1 requesting him to introduce another duty roster on a weekly or biweekly basis.
The council had submitted another letter to the higher-ups on May 7 requesting measures before reopening the economy, but the management has not done anything to this end yet.
Due to this fact, the officials are spending days nervously as the coronavirus spread alarmingly among the officials, several officials told The Daily Stat yesterday.
The central bank has issued many notices to banks instructing them to follow roster duty and maintain social distancing to keep carefully the contagion at bay.
Besides, the BB asked lenders to draft a business continuity plan in order that they can run procedures during the pandemic.
However the central bank hasn't taken any effective measure to protect its staff, the officials said.
In many countries like the US, India, the UK and the EU, the central banks are playing an integral role in combatting the pandemic.
In Bangladesh, the BB in addition has unveiled a number of stimulus packages to aid the businesses and industries, entrepreneurs and farmers reeling from the crisis.
If the official of the monetary policy or the banking regulation and policy department contacts the virus, the departments would have to be locked down and the officials would need to choose quarantine, said a central banker.
"This will badly affect the financial sector. The central bank will face a hardcore situation in drawing up policies and regulations in that dreadful state," he said.
Up to now, the banking regulator has formed a body, COVID-19 Contingency Planning Strategic Committee. The committee sat in a meeting on Tuesday but did not take any decision.
In line with the council letter, officials of many departments now work in a risky condition as there's been no available desk or personal computers for all of them.
In many cases, 2-3 officials share the same computer or desk, which includes widened the chance of infection.
A great number of officials come to the office each day from their homes in so far as Savar, Gazipur and Narayanganj, which are among the risky zones for the coronavirus.
Besides, there is no social distancing when the employees ride staff buses to come and go from the office.
In the letter, the council cited the measure taken by the Reserve Bank of India to tackle the virus to perform the official procedures smoothly.
The neighbouring country's central bank has segregated 150 staff of its critical departments such as for example debt and reserve management and monetary operations. They have been devote a hotel near the principal data centre.
The RBI is nearly being run from a war-room at a city facility, based on the Economic Times.
The council has requested Anwer Khan Modern Hospital to make sure smooth testing of samples of BB officials.
The central bank should put in place another duty roster and take measures like what the RBI did in the shortest possible amount of time in the interest of the country's financial sector, the officials said.
Md Serajul Islam, spokesperson and an executive director of the central bank, did not respond to obtain comment.
