Staff Reporter :
BB Governor Dr Atiur Rahman has launched Information for Deposit Insurance Premium Assessment (IDIPA) software for receiving premium against bank depositors under the Deposit Insurance System (DIS) on Tuesday.
The software will be the safeguard for the depositors while his bank face any difficulty in that case central bank will provide financial support of that bank, Governor said at a programme in BB conference hall.
He termed it as another step forward of the country’s banking sector towards digitization.
The software – Information for Deposit Insurance Premium Assessment (IDIPA) developed by the software engineering team of the central bank, aims to protect bank’s depositors, assuring them of insurance benefit in case of any ‘unlikely event’ such as closure of the bank.
He said the affected depositors would get a certain amount of money from the ‘Trust Fund’ in case of collapse or closure of any bank, though none of the banks operating in Bangladesh faced closure since the independence of the country.
He said the key elements of IDIPA also include maintaining public confidence and promoting financial sector’s resilience through increasing savings.
In accordance with the provision of the Bank Amanat Bima Ain-2000 (Bank Savings Insurance Act, 2000), premium collects from insured banks and all other receivables are deposited in the DITF. Currently, the DITF has a total deposit of Tk 3,661 crore.
BB Governor Dr Atiur Rahman has launched Information for Deposit Insurance Premium Assessment (IDIPA) software for receiving premium against bank depositors under the Deposit Insurance System (DIS) on Tuesday.
The software will be the safeguard for the depositors while his bank face any difficulty in that case central bank will provide financial support of that bank, Governor said at a programme in BB conference hall.
He termed it as another step forward of the country’s banking sector towards digitization.
The software – Information for Deposit Insurance Premium Assessment (IDIPA) developed by the software engineering team of the central bank, aims to protect bank’s depositors, assuring them of insurance benefit in case of any ‘unlikely event’ such as closure of the bank.
He said the affected depositors would get a certain amount of money from the ‘Trust Fund’ in case of collapse or closure of any bank, though none of the banks operating in Bangladesh faced closure since the independence of the country.
He said the key elements of IDIPA also include maintaining public confidence and promoting financial sector’s resilience through increasing savings.
In accordance with the provision of the Bank Amanat Bima Ain-2000 (Bank Savings Insurance Act, 2000), premium collects from insured banks and all other receivables are deposited in the DITF. Currently, the DITF has a total deposit of Tk 3,661 crore.
