PSD Circular No. 09: Continuation of Uninterrupted Banking and Payment Services in Response to COVID-19

Payment Systems Department Bangladesh Bank Head Office Dhaka. PSD Circular No. 09/2021 Date: 16 Asharh 1428 30 June 2021

Managing Director/Chief Executive Officer All Scheduled Banks All Mobile Financial Service Providers All Payment Service Providers All Payment Systems Operators

Dear Sir,

Regarding the continuation of uninterrupted banking and payment services in the situation arising from COVID-19.

In continuation of the Memorandum No. 04.00.0000.514.16.001.21.203 dated 30-06-2021 from the Ministry of Cabinet Affairs of the Government of the People's Republic of Bangladesh, Circular Letter No. 27 from the Department of Offsite Supervision, and Circular No. 04/2021 dated 04-04-2021 from this department, the following instructions are being issued regarding the operation of essential banking, MFS, and payment services during the government-declared curfew/movement restrictions:

1. Banks, MFS, and all financial service providers shall identify and list key personnel for customer service and business continuity, and prepare an Emergency Contact List (ECL) on an emergency basis to keep services running in special situations;

2. During the period when government-declared curfew/movement restrictions are imposed, banks, PSPs, PSOs, and MFSs shall keep their respective systems, distribution, and agent channels uninterrupted and active as deemed essential and urgent;

3. Banks shall ensure uninterrupted cash and e-money (where applicable) supply services at bank cash counters, Automated Teller Machines (ATMs), agent banking agent points, and Mobile Financial Service (MFS) agent points according to customer demand. Banks, ATMs, Cash Centers, and agent points shall regularly be disinfected and hand sanitizers shall be kept on-site;

4. Banks shall take necessary measures to keep their ATM channels fully operational and to feed cash into ATMs as quickly as possible according to demand. The minimum amount for withdrawal from ATMs shall be 01 (one) lakh BDT, and the minimum amount for a single transaction shall be the same for both Cash Deposit and Cash Withdrawal;

5. a) To provide 24/7 customer transaction facilities, banks providing online banking transaction services shall keep such services uninterrupted; b) To encourage the public to transact electronically during the curfew/movement restriction period, the upper limit for Internet Banking Fund Transfer (IBFT) transactions via NPSB is redefined as follows:

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Continued from previous page:

	Individual	Institutional
Daily Transaction Upper Limit	10,00,000 BDT	25,00,000 BDT
Single Transaction Upper Limit	3,00,000 BDT	5,00,000 BDT
Daily Transaction Upper Count	10	20

c) In the case of Internet Banking transactions, 2-Factor Authentication (2FA) must be ensured.

6. To facilitate essential interbank transactions, the following schedule for the operation of Interbank Fund Transfer (IBFT) shall remain active during the government-declared curfew/movement restriction period: a) IBFT Operating Hours:

   • Saturday: 11:30 AM to 01:00 PM
   • Friday: 12:00 PM to 2:00 PM b) On the aforementioned days, two sessions of IBFT shall remain active according to the existing schedule.

7. The transaction time for the Bangladesh Clearing House Automated Clearing House (BCHACH) is determined from 10:00 AM to 1:30 PM. However, payment of customs duties/taxes, fees, charges, etc., and interbank transactions via BCHACH can be made until 2:30 PM;

8. All banks, MFS, PSP, and PSO shall keep close watch on their respective system infrastructure and conduct special monitoring to counter cyber attacks on systems and databases, including e-mail, phishing e-mails, ransomware attacks, etc. Simultaneously, all concerned parties shall be alerted regarding transaction-related fraud and COVID-19-based financial fraud via social media, e-mail, and mobile phones. All infrastructure must be kept running as usual according to the changing situation, and vigilance must be maintained regarding security and cyber risks;

The above instructions shall remain in force until further instructions are issued.

(Md. Mezbaul Haque) General Manager Phone: 02-9530174