Photo: BigstockThe circular has been issued by the central bank’s Banking Regulation and Policy DepartmentAll banks must construct vaults with their own budget, instead of sharing expenses with building owners, said a circular issued by Bangladesh Bank (BB) on Wednesday. The circular, issued by the central bank’s Banking Regulation and Policy Department, read that vaults are sensitive infrastructures which must be constructed according to the guidelines set by BB. Banks’ authorities should therefore maintain the guidelines and construct the vaults using their own budgets, the circular added. The circular also stated that besides constructing vaults using their own finances, banks will transfer vaults on their own should they relocate their branches. It was mentioned also that Tk1,850 can be spent per square feet, apart from IT equipments and air conditioners while constructing vaults.

Source: Dhaka Tribune January 10, 2019 17:48 UTC