e-News® | The NEWS Company…DHAKA, August 20, 2015 : Two private sector banks on Wednesday signed agreement with the Election Commission (EC) to have access to its database for verifying the national identity (NID) of their clients. Dutch-Bangla Bank and BRAC Bank signed the agreement with EC at a programme at a city hotel where Bangladesh Bank (BB) governor Dr Atiur Rahman was the chief guest.
“With the signing of this agreement, banks will be able to verify NID submitted by the account holders for account opening and getting loans. This verification will authenticate individuals and ensure transparent financial transactions”, the governor said after signing of the agreement. The governor hoped that the banks would verify NIDs of their existing and upcoming customers regularly and that would reduce time taken for KYC, which would ultimately ensure transparency in transactions in every aspect.
He, however, suggested the EC to consider providing access to its database via the central bank that would reduce network connectivity for all banks and financial institutions and help EC to manage ICT security effectively. Otherwise, he said, EC would have to manage multiple network connectivity from multiple service providers to maintain uninterrupted NID verification service to all banks and financial institutions.
