Banks asked to build business centre vaults on their own

Staff Correspondent | Published: 00:00, Jan 10,2019

 
 

Bangladesh Bank has asked banks to ensure foolproof security of vaults at their business centres in rented houses by building vaults on their own instead of engaging owners of the houses in the process.
The central bank issued the instruction on Tuesday as it came to know that many of the banks were asking owners of the rented houses to build vaults, raising fear that there might be lapse in maintaining security benchmarks.
According to the BB instruction, vault is a very sensitive installation and its security must be maintained in line with the measures specified by the central bank.
BB also asked banks to remove the vaults of such business centres on their own while shifting to another place.
To facilitate building vaults by banks on their own along with procuring furniture for the business centres, BB on Tuesday revised upward the highest expenditure limit per squat feet.
In case of setting up new business centres, banks will be allowed to spend up to Tk 1,850 per square feet while the limit was Tk 1,500 earlier.
For the transfer of business centres of banks, the entities will now be allowed to spend highest Tk 1,250 per square feet. The previous limit was Tk 1,000 per square feet.
The cost of the vault removal would not be included in the cost of the business centre transfer.

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