DOS Circular Letter No. 39: Intermission of Some Banking Services and Operations of Standard Bank Ltd. Due to Migration from Conventional CBS to Islamic CBS

Department of Supervision
(central bank of bangladesh)

Head Office
Motijheel, Dhaka-1000
Bangladesh

DOS Circular Letter No. 39
Date:
09 Poush, 1427 Bangabda
24 December, 2020 AD

Managing Director / Chief Executive Officer All Scheduled Banks operating in Bangladesh.

Dear Sir,

Reference is drawn to your attention regarding the temporary intermission of some banking services and operations of Standard Bank Ltd. with the objective of completing the migration program from Conventional CBS to Islamic CBS.

It is informed that, with the aim of completing the migration from Conventional CBS to Islamic CBS, consent has been granted to the application of Standard Bank Ltd. for the temporary intermission of the transactions mentioned in the table below from 6:00 PM on 30/12/2020 to 10:00 PM on 04/01/2021:

Specified Downtime Suspended Services

From 6:00 PM on 30/12/2020 to 10:00 PM on 04/01/2021

1. Batch (Clearing) Program.
2. BEFTN and Digital Banking (EFT) Programs.
3. RTGS Transactions.

This consent has been granted under the powers vested in the Department pursuant to Section 45 of the Bank Company Act, 1991 (as amended up to 2018), which is hereby published for your information.

Yours faithfully,

(Md. Nurul Amin)
General Manager
Phone: 9530093