Bangladesh Bank (BB) has issued special instructions to scheduled banks, mobile financial services (MFS) providers, payment service providers (PSPs) and payment system operators to keep the country's banking and digital transaction system operational during the holy Eid-ul-Azha holiday.
This instruction was given in a circular issued by Bangladesh Bank on Thursday.
The circular states that to ensure uninterrupted service to customers during the Eid holiday, transactions through Automated Teller Machines (ATMs), Point of Sale (POS), QR codes, internet banking, online e-payment gateways and mobile financial services (MFS) should be continued.
Bangladesh Bank said that round-the-clock services should be continued at all ATM booths. If any technical glitch occurs, it should be resolved quickly. In addition, it has been asked to ensure adequate cash supply and round-the-clock security in the booths. Instructions have also been given to the officials of the concerned banks to inspect the ATM booths if necessary.
POS and QR code-based transactions have also been asked to be kept active at all times. At the same time, the central bank has instructed merchants and customers to be aware of fraud prevention.
Two-factor authentication (2FA) has been made mandatory for transactions carried out through internet banking and online e-payment gateways to strengthen security. This security system has been ordered to be ensured especially in card-based online transactions of the 'card not present' type.
In addition, after receiving the settlement report of transactions with the '85' branch code, the receiving bank has been instructed to immediately deposit the money into the customer's account.
Mobile Financial Services (MFS) providers have been asked to ensure uninterrupted transactions during the Eid holidays and adequate cash supply at agent points. At the same time, Bangladesh Bank has instructed to make necessary preparations to deal with the pressure of additional transactions.
The circular states that all types of electronic transactions should be immediately communicated to the customer through SMS alerts. In addition, it has been ordered to keep the helpline open round the clock so that the customer does not suffer any kind of harassment. It has also been said to run awareness campaigns in the media to ensure security and prevent fraud in digital transactions.
Bangladesh Bank said that all the instructions issued earlier by this department should also be followed properly. The central bank said that the matter is 'very important'.
Bd-pratidin English/Lutful Hoque
