• Thursday, Jun 20, 2019
  • Last Update : 10:57 pm

Tighten security of digital payment systems during Ramadan

  • Published at 09:43 pm May 5th, 2019
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The Bangladesh Bank building at Motijheel Mehedi Hasan/ Dhaka Tribune

Bangladesh Bank instructs commercial banks

Bangladesh Bank has asked all commercial banks to tighten security in digital payment system during the month of Ramadan. 

In addition, instructions have been given for ensuring uninterrupted transactions through automated teller machines (ATMs), Point of Sales (POS,) E-payment gateway, and mobile financial services (MFS).

Bangladesh Bank held a meeting on Sunday with relevant officials of banks at the central bank’s conference room. Executive Director of the central bank (Payment Systems Department) SM Rabiul Hassan chaired the meeting. 

During the meeting, the banks were also instructed to strengthen security in online payments, as well as resolving any technical issues in ATM booths, keeping available cash at ATM booths, and ensuring the presence of security guards at all booths, said a senior official of Bangladesh Bank.

He also said all banks and their subsidiaries of mobile financial services (MFS) must ensure uninterrupted transactions during the month of Ramadan. In this case, any transaction information must be communicated to the customer through SMS alert service.

Talking to the Dhaka Tribune, SM Rabiul Hassan said: “Every year instructions are given to the banks through circulars on strengthening the security of digital payment systems during Ramadan. But this year, we arranged a meeting and instructed them to implement our directives.”

According to the Bangladesh Bank data , there are more than 9,000 ATM booths at different banks in the country. Dutch Bangla Bank has the most booths with 4,500, followed by Islami Bank Bangladesh and Brac Bank.