Bangladesh Bank (BB) has instructed commercial banks to keep adequate cash at ATMs and ensure smooth online banking without interruptions, reports FE.
The central bank issued the notification as they head into an unusually long closure of nine days for the Eid holidays.
After it was decided to declare a holiday on April 3, most offices in the country will get a holiday stretching for nine days on the occasion of Eid-ul-Fitr.
That is why banks and financial institutions will be closed during these days. For this, the central bank has instructed banks to keep sufficient money in the automated teller machine (ATM) booths to facilitate smooth transactions, according to a UNB report.
In addition, it has been asked to ensure that point-of-sale (POS) systems, online payment gateways, and mobile financial services (MFS) remain operational at all times.
Bangladesh Bank issued a notification in this regard on Monday. It states that banks and financial institutions must ensure uninterrupted transactions through ATMs, point-of-sale (POS) systems, QR codes, internet banking, online payment gateways, and mobile financial services (MFS).
Additionally, the central bank has instructed banks and financial institutions to ensure round-the-clock service at ATM booths, quickly resolve any technical errors in the booths, and maintain an adequate supply of money.
The central bank's instructions also require keeping security personnel alert at the booths at all times and having officials from the concerned banks inspect the booths regularly.
The notification further states that, in the case of point-of-sale (POS) systems, round-the-clock POS and QR code services should be ensured, and merchants and customers should be made aware to prevent fraud. Regarding internet banking and online payment gateways, a two-factor authentication system should be maintained for card-based 'card-not-present' transactions. At the same time, all banks or their subsidiary companies providing MFS services should ensure uninterrupted transaction systems and an adequate cash supply at the agent level.
Bd-Pratidin English/ AM
