Directive to Ensure Sufficient Cash in ATMs

As the country prepares for a nine-day holiday during Eid-ul-Fitr, the central bank has directed all commercial banks to keep their Automated Teller Machines (ATMs) sufficiently stocked with cash. Additionally, banks have been instructed to ensure the uninterrupted operation of Point of Sale (POS) systems, online payment gateways, and mobile financial services (MFS) to meet customer demands during the extended holiday period.

On Monday, Bangladesh Bank issued a circular outlining these directives. The circular states, "Banks and financial institutions must ensure seamless transactions through ATMs, POS systems, QR codes, internet banking, online payment gateways, and mobile financial services (MFS) during Eid."

Furthermore, the central bank has mandated continuous ATM service availability, swift resolution of any technical malfunctions, and adequate cash replenishment in ATMs. Banks and financial institutions have also been directed to maintain round-the-clock security at ATM booths and ensure that bank officials conduct regular inspections.

The circular further emphasizes that "POS services, including QR code transactions, must remain fully operational, while merchants and customers should be made aware of fraud prevention measures." For internet banking and online payment gateways, two-factor authentication must be implemented for "card-not-present" transactions. Additionally, banks and their subsidiary companies offering MFS must ensure uninterrupted services and sufficient cash supply at the agent level.

In addition to maintaining transaction security, Bangladesh Bank has instructed financial institutions to take measures to prevent customer inconvenience and ensure a 24/7 helpline service throughout the holiday period.