Online Review Workshop on “IT Operations of Banks” held01-09-2021
Dhaka, 01 September, 2021:
A half day long online Review Workshop was held at the Bangladesh Institute of Bank Management (BIBM) on 01 September, 2021. Mr. Ahmed Jamal, Chairman of BIBM Executive Committee and Deputy Governor of Bangladesh Bank was present in the Review Workshop as the chief guest.
Mohammed Sohail Mustafa CFA, Associate Professor & Director (Training & Certification Program) of BIBM delivered welcome address. Dr. Md. Akhtaruzzaman, Director General of BIBM Chaired the Program. A paper “IT Operations of Banks” was presented in the Review Workshop by Md. Shihab Uddin Khan, Associate Professor of BIBM.
Other members of the research team are Md. Mahbubur Rahman Alam, Associate Professor of BIBM; Kaniz Rabbi, Assistant Professor of BIBM; Md. Foysal Hasan, Lecturer of BIBM; Engr. Mohammad Jamal Uddin Mazumder, Senior Executive Vice President of Islami Bank Bangladesh Limited.
According to the study, Banks have increased their investment in IT security. In 2019, 5.6 percent of the total IT budget was allocated to IT security. In 2020, about 9.5 percent of the total IT budget is allocated to IT security. The researchers said, banks are increasing their allocations for IT security due to the increasing awareness of cyber attacks in the banking sector.
Dr. Barkat-e-Khuda, Dr. Muzzafer Ahmed Chair Professor of BIBM & Former Professor of Dhaka University; Debdulal Roy, Executive Director (Programing) of Bangladesh Bank; Md. Arfan Ali, President and Managing Director of Bank Asia Limited; S.M. Mainuddin Chowdhury, Additional Managing Director of Shahjalal Islami Bank Limited made comments as designated discussants.
Deputy Governor said, IT in banking sector refers to the use of sophisticated information and communication technologies together with computer science to enable banks to offer better services to its customers in a secure, reliable and affordable manner and sustain competitive advantage over other banks. It has now become impossible to separate ICT from the business of the banks and the financial institutions he added.
Director General of BIBM said, output of the study along with opinions and observations made today will help BB to take future actions.
A good number of participants including senior bank executives, academicians, media representatives, faculty members of BIBM took part in the online review workshop.