Discussions were held yesterday, Thursday (August 1) on how to keep banking services running across the country without using the internet. Bangladesh Bank has begun preparing for this situation. Today, Thursday, Governor Abdur Rouf Talukder of Bangladesh Bank met with the managing directors (MDs) of about a dozen public and private banks to talk about this issue.
The Governor advised the MDs to stay positive in any situation and asked about the damages and losses in the banking sector due to the recent unrest.
During the meeting at Bangladesh Bank, the MDs reported that four employees from Dutch-Bangla Bank and Standard Chartered Bank had died during the recent troubles. However, there was no major damage to the bank’s assets, with only a few ATMs and branches slightly affected.
The MDs informed the Governor that even when banks were closed, ATM services were still working. However, online banking was disrupted because the internet was down. Bangladesh Bank discussed ways to keep banking services running without the Internet. They mentioned plans to use alternative methods for banking, such as separate lines or cable lines that don’t need the Internet.
MDs from various banks, including state-owned Sonali Bank and private banks like Dutch-Bangla, The City, Eastern, Mutual Trust, BRAC, Bank Asia, Prime, and Trust Bank, were present at the meeting.
After the meeting, Selim RF Hossain, Chairman of the Association of Bankers Bangladesh (ABB) and MD of BRAC Bank, told journalists, “This time, we did not suffer significant losses. Four bank-related people died. We discussed whether banking services could be operated without depending on the Internet. Bangladesh Bank is looking into this matter.”
In response to a question, Selim RF Hossain said, “There is no need to worry about changes in remittances. We haven’t received reports of significant business losses this time. Nevertheless, some people may try to take advantage of the situation.”