BB asks banks to ensure smooth operations of ADCs in Eid


FE REPORT | Published: April 29, 2022 08:42:05 | Updated: April 29, 2022 13:38:47


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The central bank has asked all the scheduled banks to ensure transactions by arranging smooth operations of alternative delivery channels (ADCs) round the clock during the upcoming Eid vacation, officials said.

The ADCs cover operations of ATM (automated teller machine), POS (point of sale), e-payment gateway, internet banking, and mobile financial services (MFS).

The Bangladesh Bank (BB) issued a circular in this connection on Thursday. It asked the managing directors and chief executives of the banks and relevant service providers for taking necessary measures for ensuring smooth transactions during the Eid vacation.

The banks were also asked to ensure availability of cash at ATM booths all the time during the vacation.

"We've taken the measures to ensure smooth transactions using the ADCs during the Eid vacation," a BB senior official told the FE while explaining the main objective of the circular.

He also said transactions using the digital channels, such as ATM, internet and mobile, normally increase significantly during the weekends and other holidays.

"Currently, a section of people prefer card-based transactions than traditional banking to avoid hassles," the central banker explained.

Eid-ul-Fitr, the largest religious festival of the Muslims, is scheduled to be celebrated either on May 2 or 3, depending on the sighting of moon. The government declares vacations for 3-4 days to celebrate the festival.

The banks must inform their clients about any amount of transactions using ADCs by sending SMS (short message service) to them, according to the BB circular.

The MFS providers will have to provide their financial services during the holidays. Besides, the MFS agents will have to keep sufficient funds in their outlets, so that clients can withdraw funds uninterruptedly.

siddique.islam@gmail.com

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