Bangladesh Bank has said the scheduled banks will not require taking prior permission from the central bank to set up electronic booths including automated teller machines.
The BB on Tuesday issued a circular to managing directors and chief executive officers of all banks asking them to take prior approval from their respective board of directors to set up such booths.
The BB will shut down the booths of the banks if the central bank’s inspection teams detect that they (banks) perpetrate irregularities in maintaining their expense and rent cost.
The banks will not be allowed any type of banking operation except electronic transactions through such booths.
The banks will not require taking prior approval from the central bank to renew the rent and lease duration of their infrastructures if the duration is not crossed the previous limit.
The lease and rent duration will be for three years and above and the rent cost should not cross by 15 per cent from the previous cost of the banks.
The banks will have to inform the central bank by one month after taking approval from their respective board about the rent and lease of their infrastructures.
-With New Age input
