Bangladesh Bank has instructed commercial banks to keep adequate cash at ATMs and ensure smooth online banking without interruptions 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, it means most offices in the country will get a holiday stretching for 9 days on the occasion of Eid ul Fitr.
That is why banks and financial institutions will be closed for these days. For this, the central bank has instructed banks to keep sufficient money in the automated teller machine (ATM) booths of the bank to facilitate smooth transactions.
In addition, it has been asked to ensure that the point of sales (POS), online payment gateway, mobile financial service (MFS) are kept operational at all times.
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Bangladesh Bank issued a notification in this regard on Monday. It says that banks and financial institutions will have to ensure uninterrupted transactions through ATMs, point of sales (POS), QR codes, internet banking, online payment gateway and mobile financial service (MFS).
In addition, the central bank has instructed banks and financial institutions to ensure round-the-clock service at the ATM booths and to resolve any technical errors in the ATM booths quickly and to ensure adequate supply of money.
The central bank's instructions have been given to keep security personnel alert at the booths at all times and to inspect the booths of the officials of the concerned banks.
The notification further states that in the case of Point of Sales (POS), round-the-clock POS and QR code services should be ensured and merchants and customers should be made aware to prevent fraud. In the case of internet banking, online payment gateways, two-factor authentication system should be kept in place for card-based 'card not present' transactions. At the same time, all banks or their subsidiary companies in MFS services should ensure uninterrupted transaction systems and adequate cash supply at the agent level.