Bangladesh Bank (BB) held discussions on Thursday with the managing directors (MDs) of various banks about how to maintain banking services without relying on internet connectivity.
BB Governor Abdur Rouf Talukder presided over the meeting, which took place at the central bank headquarters. The discussion focused on preparing for potential disruptions to internet services, and how to ensure continuity of banking operations under such circumstances.
The meeting also addressed the recent unrest in the country, with the MDs sharing updates on damages and casualties within the banking sector. According to sources close to the meeting, four employees from Dutch-Bangla Bank and Standard Chartered Bank lost their lives due to the unrest. However, the banking sector did not suffer significant asset losses, with only minor damage reported to a few ATMs and branches.
Bangladesh Bank is reportedly considering alternative arrangements for banking services, such as using separate or dedicated cable lines that do not rely on the internet.
MDs from several banks, including Sonali Bank, Dutch-Bangla Bank, The City Bank, Eastern Bank, Mutual Trust Bank, BRAC Bank, Bank Asia, Prime Bank, and Trust Bank, were present at the meeting.
Following the meeting, Selim RF Hussain, the chairman of the Association of Bankers Bangladesh (ABB) and MD of BRAC Bank, briefed reporters. "We have not suffered significant losses this time," he said.
"There is an ongoing discussion on how to provide banking services without relying on the internet. The central bank is actively exploring this issue," he added.