MoF guideline on securing SoCBs\\\' vaults

The ministry of finance (MoF) has issued a ten-point guideline on how to ensure foolproof security of cash vaults of state-owned commercial banks (SoCBs).

The guideline includes security measures, including building concrete structure and installation of close circuit cameras to secure the cash vaults.

The Bank and Financial Institution Division (BFID) of the ministry issued a circular on the guideline Tuesday in line with the recommendations of a probe committee, which was formed to investigate the robbery at a branch of the Sonali Bank in Kishoreganj in January last.

The circular signed by BFID Deputy Secretary Md. Rizwan Huda asked the banks to ensure a system so that no unauthorised person could have access to the vaults.

The division asked the banks to shift their branches to own buildings, if possible, and collect information about all people living near the bank branches.

It also asked the banks to make sure the Special Branch of police collects personal information about the people living near the banks.

The division asked the branches to transfer money from vaults to zonal offices in the event of any amount of money crossing the minimum limit. Robbers on January 26 last looted Tk 16.40 crore or 164 million by digging a tunnel to the vault at the Sonali Bank branch on Isa Khan Road of Rathkhola in Kishoreganj district town.  

Following the robbery, the government formed three probe committees, one of which made the recommendations on security.

The tunnel was dug to the vault from a nearby building only 20 yards away from the bank. A narrow alley separates the bank and the building. The policemen stationed at the bank were utterly clueless about the tunnel.