Cybersecurity in banking sector a key election-time concern: Faiz
Published: 20 August 2025, 3:15:54
Cybersecurity remains a critical concern for Bangladesh’s banking sector in lead-up to the upcoming national elections, warned Faiz Ahmad Taiyeb, Special Assistant to the Chief Adviser at Ministry of Posts, Telecommunications and Information Technology.
Speaking at a seminar titled “Cyber in Financial Sector of Bangladesh: Security in Digital Future,” held at a hotel in Dhaka, Faiz revealed that only 17 to 20 banks in the country currently maintain a satisfactory cybersecurity standard.
He flagged multiple looming threats including financial fraud, online gambling, outdated banking software, vulnerabilities in file transfer systems, DDoS attacks and risks to data centers.
The seminar was jointly organized by National Cyber Security Agency (NCSA) and EDGE Project under the ICT Division.
Dr Anisuzzaman Chowdhury, Special Assistant to the Chief Adviser at Ministry of Finance, called for stronger public-private partnerships to improve cybersecurity awareness and resilience across the financial sector.
Financial Institutions Division Secretary Najma Mobarek highlighted the need for greater coordination between banks’ IT departments and their core business units, while NBR Chairman Md Abdur Rahman Khan recommended improved data sharing between banks and tax authorities to enhance revenue collection.
Participants from BRAC Bank, IFIC Bank and City Bank offered technical insights and practical challenges faced by the banking sector in maintaining cybersecurity.
Presided over by ICT Division Secretary Shish Haider Chowdhury, the event drew participation from senior officials and key stakeholders from both the ICT and financial sectors.
All speakers agreed that a secure digital infrastructure is essential not only for advancing Bangladesh’s digital transformation, but also for maintaining public trust and the overall stability of the financial system.
