To issue new debit, credit cards within 7 days
A file photo shows a client using ATM of a private commercial bank in Dhaka. Bangladesh Bank on Tuesday asked scheduled banks to issue new debit or credit card within seven days to a client if his or her card got stuck in the ATMs.
Bangladesh Bank on Tuesday asked scheduled banks to issue new debit or credit card within seven days to a client if his or her card got stuck in the ATMs.
BB officials said that a bank must destroy any debit or credit card which got stuck in the automated teller machines (ATMs) and give the client a new card within seven days after receiving application from the client.
The BB issued a letter to managing directors and chief executive officers of all banks asking them to take measure in this regard in a bid to tackle fraudulent acts.
The BB move came after a number of clients of four leading private banks — Eastern Bank, United Commercial Bank, Mutual Trust Bank and City Bank — had become victims of an ATM scam between February 6 and February 12 as the skimmers withdrew money from their clients’ accounts by forging data of their debit cards.
A BB official told New Age on Tuesday that the banks earlier would not follow any rules about returning the cards to the clients if they got stuck in an ATM. The clients had to wait for long if their cards got stuck in any ATM, he said.
When asked who would pay for the new card, the BB official said that the respective bank would decide the matter.
The official said the BB feared that the skimmers might withdraw money from the ATM booths by using debit or credit cards of the clients which got stuck in the machine.
The law enforcement agency has recently arrested three officials of City Bank and a foreigner on charge of their suspected involvement in the ATM scam.
Following the scam the BB asked the banks to set up anti-skimming device and PIN shield device at their ATMs by March 16 to tackle fraudulent acts.
The BB asked the banks to observe the video footage of their ATM booths accurately on daily basis.
The banks have to take effective measures if they find any doubtful incident in their respective ATM booths. The banks have to inspect their ATM booths on random basis and the inspections reports will have to be placed before the central bank on monthly basis.
The banks have to give training to the guards of the ATM booths so that they (guards) tackle the fraudulent acts. The banks have to give SMS instantly to the clients’ mobile phone after settling any transaction through the ATM booths.
Bangladesh Bank Governor Dr Atiur Rahman today (Wednesday) assured to extend all-out support to the National Board of Revenue (NBR) to make country’s overall tax management tax-friendly. The BB Governor laid emphasis on integrated mechanism in mobilizing internal resources through the key stakeholders of the government. He said there must be proper coordination among auditors general office, BB, NBR and finance ministry to ensure maximum benefits for the country’s growing economy. He was addressing a seminar titled ‘VAT e-payment integration with IBAS and other commercial banks’ in the city on the day. He said recent steps like introduction of RTGS, EFTN, BACH have spurred the momentum of economy through prompt delivery of money transaction between the banks and the customers.News:Financial Express/2-Mar-2016
Wasif Ali Khan, Deputy Managing Director & head of Chittagong region of National Bank Limited inaugurating the shifted Hathazari branch by cutting ribbon at Foyez Shopping Center, Ramgor Road, Hathazari' recently. Md Mamnur Rashid Molla, Manager of Khatun
Wasif Ali Khan, Deputy Managing Director & head of Chittagong region of National Bank Limited inaugurating the shifted Hathazari branch by cutting ribbon at Foyez Shopping Center, Ramgor Road, Hathazari\' recently. Md Mamnur Rashid Molla, Manager of KhatuNews:New Nation/2-Mar-2016
Deputy Governor of Bangladesh Bank (BB) SK Sur Chowdhury addressing a workshop on Water and Energy Efficiency Financing as chief guest at a local hotel on Sunday. Mohan Seneviratne, Programme Manager, PaCT (Partnership for Cleaner Textile) of the IFC, We
Economic Reporter :Deputy Governor of Bangladesh Bank (BB) SK Sur Chowdhury has given emphasis ".... mechanisms to capture the opportunities for water and energy efficiency investments need to be created or strengthened," BB Deputy Governor Sur Chowhury said while addressing at a workshop on Water and Energy Efficiency Financing as Chief Guest at a local hotel on Sunday. The workshop, titled 'Water & Energy Efficiency Financing', organized by the Partnership for Cleaner Textile (PaCT) programme of the International Finance Corporation, World Bank Group, addressed some of the key issues in increasing overall financial flows to the sector through innovation in financial product offering and, market development. "For water and energy efficiency investments to be made, water and energy efficiency concepts must be marketed to enterprises, and specific projects must be identified, designed, and appraised," the Deputy Governor explained.Despite the variety of sources for financing energy efficiency projects, it is clear that ultimately the key source of sustainable and sizable flows of finance in most countries is the local banking sector, he observed.He also said water efficiency is an investment in future service reliability, environmental stewardship and economic viability."Greater energy efficiency is the key for shifting country development paths toward lower-carbon economic growth. Especially in developing countries and transition economies, vast potential for energy savings opportunities remain unrealized even though current financial returns are strong," Sur Chowdhury noted."So, innovation is must! Diversifying and innovating newer financing modalities and financial instruments for water and energy efficiency viz-a-viz sustainable sectors will give the banks and financial institutions an added advantage," he added.He also said the time has already come to make the banks sustainable to make the financial system sustainable. "Definitely, the banks have to make profit, but the profit has to be sustainable.""We're ready to give our hand of cooperation and support as usual to all relevant stakeholders for sustainable development," the Deputy Governor noted.He also mentioned that the central bank of Bangladesh has already started working to upstream the sustainable finance mechanism for future.The main objective for arranging the workshop was to support financial institutions and technology service providers in promoting water and energy efficiency products and services for the textile industry in Bangladesh. Among others, Mohan Seneviratne, Programme Manager, PaCT (Partnership for Cleaner Textile) of the IFC, Wendy Werner, Country Manager of the IFC and Selim R F Hussain, Managing Director and Chief Executive Officer of BRAC Bank Limited spoke on the occasion.News:New Nation/2-Mar-2016
Doris Honold, group chief operating officer of Standard Chartered Bank, is in Dhaka for a short visit and scheduled to meet senior government officials and the bank's staff and clients.
Aalishaan Zaidi, chief operating officer for retail banking at Standard Chartered Bank, is accompanying Honold, the bank said in a statement yesterday.
Honold in her professional capacity supports the group chief executive in defining and executing the business strategy, reinforcing control and governance, ensuring strategic functional alignment and enabling business growth through efficiency.
She has also served as the group head of market risk and chief operating officer for wholesale banking.
“Representation from our group management team is a sign of our commitment to the Bangladesh franchise and underscores the potential we see in this market,” said Abrar A Anwar, CEO of Standard Chartered Bangladesh.News:The Daily Star/2-Mar-2016