To prevent disruptions in financial transactions during the Eid holidays, Bangladesh Bank has issued directives to all scheduled banks, mandating an uninterrupted supply of cash at ATM booths and ensuring seamless Point of Sale (POS), e-payment, and Mobile Financial Service (MFS) transactions.
The Payment Systems Department of the central bank issued a circular on Monday (24 March) to bank CEOs, outlining measures to ensure the smooth functioning of banking services.
Banks have been instructed to ensure round-the-clock availability of ATM services.
Any technical malfunction at ATM booths must be resolved promptly, and sufficient cash must be supplied to prevent any inconvenience to customers.
The directive also mandates heightened security measures, including vigilant monitoring of ATM booths and ensuring the presence of security personnel at all times.
For point-of-sale (POS) transactions, banks must ensure uninterrupted service while also raising awareness among merchants and customers to prevent fraud and financial crimes.
Additionally, e-payment gateways facilitating ‘card-not-present’ transactions must maintain a two-factor authentication system to enhance security.
All banks and their subsidiary companies providing MFS must guarantee seamless transactions during the holiday period.
Customers must be promptly notified of any transaction via SMS alert services, irrespective of the amount.
Furthermore, banks have been instructed to conduct awareness campaigns on electronic payment security, prevent fraudulent activities, and maintain a 24/7 helpline for customer support.
The directive also reiterates compliance with previously issued circulars concerning digital payment security and customer protection.
With these measures in place, Bangladesh Bank aims to facilitate smooth and secure transactions for customers during the festive season.
