Friday , July 12 2024

Who apply for the license of Digital Bank in Bangladesh?

Bangladesh Bank has taken the initiative to establish Digital Bank with the aim of providing global information technology-based digital banking services to the people for the purpose of building a ‘Smart Bangladesh’ declared by the Government of Bangladesh.

In this context, Bangladesh Bank has approved the ‘Guidelines for setting up digital banks’ after analyzing the legal framework of the banking system in Bangladesh. The approval of the Digital Bank Guidelines was confirmed in a press release on Thursday (June 15).

CVE-2024-5910
Critical Vulnerability Threatens Palo Alto Networks’ Expedition

Palo Alto Networks has issued a critical security advisory outlining numerous vulnerabilities across its product lines, such as PAN-OS, Cortex...
Read More
CVE-2024-5910  Critical Vulnerability Threatens Palo Alto Networks’ Expedition

Vulnerabilities in GitLab Allows Attackers to Execute Unauthorized Pipelines

GitLab has issued a warning about a serious vulnerability in its GitLab Community and Enterprise editions. This vulnerability allows attackers...
Read More
Vulnerabilities in GitLab Allows Attackers to Execute Unauthorized Pipelines

Adobe Issues Critical Security Patches for Various Products

Adobe released security updates to fix several vulnerabilities in their software. These vulnerabilities could be used by cyber attackers to...
Read More
Adobe Issues Critical Security Patches for Various Products

CISA Warns Hacker Use OS Command Injection Vulnerabilities to Compromise Systems

OS command injection vulnerabilities are a preventable type of weakness in software. Manufacturers can eliminate them by taking a secure...
Read More
CISA Warns Hacker Use OS Command Injection Vulnerabilities to Compromise Systems

Pakistan allows spy agency to intercept phone messages, calls

The Pakistan Ministry of Information Technology and Telecommunication has given permission to the Inter-Services Intelligence (ISI) to intercept citizens’ phone...
Read More
Pakistan allows spy agency to intercept phone messages, calls

Citrix Issues Critical Security Advisory for NetScaler

Citrix has warned users about severe vulnerabilities in their widely-used NetScaler products. These vulnerabilities, known as CVE-2024-6235 and CVE-2024-6236, could...
Read More
Citrix Issues Critical Security Advisory for NetScaler

(CVE-2024-38080, CVE-2024-38112)
Microsoft July Patch Tuesday fixes 142 flaws, 4 zero-days

Microsoft's July 2024 Patch Tuesday includes security updates for 142 flaws, including two zero-days that are actively exploited and two...
Read More
(CVE-2024-38080, CVE-2024-38112)  Microsoft July Patch Tuesday fixes 142 flaws, 4 zero-days

EXCLUSIVE
Analysis of 3 Ransomware Threats Active Right Now

Three emerging threats will be discussed below, along with how sandbox analysis can be utilized to detect them proactively. Lockbit...
Read More
EXCLUSIVE  Analysis of 3 Ransomware Threats Active Right Now

AVAST RELEASED DECRYPTOR FOR DONEX RANSOMWARE

Avast researchers found a security flaw in the DoNex ransomware and its previous versions, which allowed them to create a...
Read More
AVAST RELEASED DECRYPTOR FOR DONEX RANSOMWARE

Critical Security Advisory for Apache CloudStack

The Apache Software Foundation has warned about two serious security issues (CVE-2024-38346 and CVE-2024-39864) in Apache CloudStack, a popular open-source...
Read More
Critical Security Advisory for Apache CloudStack

ALSO READ:

CERT ISSUE SITUATIONAL ALERT ON CYBER THREATS

To keep pace with the world, the country’s financial institutions are also interested in providing technology-based financial services out of conventional service delivery methods.

According to the guidelines, every Digital bank must obtain a license from Bangladesh Bank under Section 31 of the Bank Companies Act, 1991 and follow the provisions of the Bangladesh Payment and Settlement Systems Regulation, 2014 to operate payment services.

Digital Bank will use technology-based artificial intelligence, machine learning, blockchain and other advanced technologies of the fourth industrial revolution to make cost-effective and innovative digital financial products and services accessible to the marginalized population.

Bangladesh Bank has started accepting applications for establishment of digital bank from 21st June which will continue till 1st August.

There have been reports that many applications have already been received for the establishment of digital banks. In this regard, Bangladesh Bank Executive Director and Spokesperson, Zakir Hossain Chowdhury told on Monday (June 26) that our application process has started from June 21 and will continue till August 1.

Zakir Hossain Chowdhury, Executive Director and Spokesperson, Bangladesh Bank

As of today (June 26), no application has been received for the establishment of a digital bank. He expressed hope that the application for the establishment of digital bank will be read in July after Eid-ul-Azha.

 

Check Also

banks logo

Australian four major banks raised alarm on cyber ‘warfare’

An executive from National Australia Bank reveals that the four major banks in the country …

Leave a Reply

Your email address will not be published. Required fields are marked *