Wednesday, 25 May, 2022

Banks asked for business planning during disaster

  • Sun Online Desk
  • 26th January, 2022 09:29:28 PM
  • Print news

Bangladesh Bank has directed the banks payment service providers to prepare business continuity plan (BCP) to maintain operations during any disaster like ongoing pandemic.

Payment System department issued the circular on Wednesday considering the effects of the ongoing third wave of the coronavirus pandemic.

Banks, mobile financial services (MFS) providers, payment service providers (PSPs) and payment system operators (PSOs) will have to provide all kind of services under any circumstance by drawing up the BCP, according to the letter signed by General Manager Mezbaul Haque.

This will help lenders and the other service providers to run their branches and other operations with limited workforces.

Banks will have to encourage clients to settle their financial transactions through mobile apps, e-wallet and cards having the technology with the near field communication.