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BB bars Tampaco’s cash withdrawal from banks

Bangladesh Bank has asked all the scheduled banks to restrict Tampaco Foils, its managing director and chairman from money withdrawal from their respective bank accounts during next three months, said a circular issued yesterday. “If they have bank accounts, clients will not be provided any facility to withdraw money from those accounts following high court order,” said the circular. Earlier, the high court ordered the banks with which Tampaco has bank account to pay the salaries to the workers affected by the destructive fire in Tampaco factory. The order came against a writ petition that was filed claiming compensation for the victims. The central bank circular has also asked all the banks to follow the high court order. Around 70% of the three-storey factory collapsed due to the fire which broke out at Tampaco Foils Ltd following an explosion on 10 September.