In the interest of security at bank branches or business centers, Bangladesh Bank has directed the country's banks not to employ any armed guards with licensed firearms.
The central bank announced this directive via a circular issued on Monday by its Banking Regulation and Policy Department.
The circular said, "According to the Firearms Licensing, Renewal and Use Policy – 2016 of the Home Ministry, a person with a licensed firearm cannot be appointed as a security guard to protect the property of any person or organisation. The security of the organisation must be ensured with firearms issued in the name of the organisation. The guard of a financial or any other institution shall not be allowed to publicly display firearms without a uniform."
Mentioning that many banks are not complying with this law, the central bank instructed them to take appropriate action in this regard.
This is not the first time the central bank has directed banks' attention to this law. On 5 March last year, Bangladesh Bank released a circular, directing all banks to abide by this law and BB guidelines issued in 2015.
The BB had issued a circular on July 5, 2015, specifying a nine-point instruction to ensure banks' security.
According to BB guidelines, all manner of background information needs to be collected before any bank recruits a security guard.
In addition to taking approval from relevant authorities, an adequate number of guards must be appointed, and proper training must be provided in weapons management.