BRPD Circular Letter No. 03: Precautionary Measures to Ensure Safety of Bank Vaults

Bangladesh Bank Banking Regulation and Policy Department Head Office, Dhaka. BRPD Circular Letter No. 03

27 January 2014 Date: .......................... 14 Magh 1420

To, The Chief Executive Officers, All Banks Operating in Bangladesh.

Dear Sir, Adoption of precautionary measures to ensure the safety of bank vaults.

It is observed with concern that despite occasional instructions from Bangladesh Bank regarding the adequate security of assets kept in bank vaults, banks are not properly complying with these instructions. As a result, there have been recent incidents of theft of assets kept in bank vaults by destroying the vault security perimeter. In this situation, to further strengthen and modernize the security of bank vaults, the following instructions are issued to take appropriate measures:

a) Structural Security: To specially secure the bank's vault space, steel enclosures must be constructed along with the installation of security-tested doors in the vault. The security of the surrounding walls including the floor and ceiling of the vault must be certified by a professional engineer.

b) Technological Security: CCTV cameras must be installed inside the vault, and security alarm monitoring systems must be maintained in the vault. Arrangements must be made for continuous connection between the vault security system and the bank's central information system. Automated fire extinguishers must be installed inside all vaults.

c) Insurance Security: It must be ensured that all assets kept in the vault are fully covered by insurance.

Please acknowledge receipt.

Yours faithfully, (Md. Anowarul Islam) Deputy General Manager Phone: 9530094