ZCZC
BSS-44
BIBM-BANK-TECHNOLOGY
Experts for using technology in enhancing efficiency of internal control
system
DHAKA, July 29, 2019 (BSS) – Experts at a workshop today underscored the
need for using information and technology in enhancing efficiency of the
internal control system of the banking sector.
They said this while speaking at a research workshop at the Bangladesh
Institute of Bank Management (BIBM) in the city, said a press release.
Chairman of BIBM Executive Committee and Deputy Governor of Bangladesh Bank
SM Moniruzzaman attended the workshop as the chief guest while former
Professor of Dhaka University Dr Barkat-e-Khuda presided over the programme.
Executive Director of Bangladesh Bank and Director General of BIBM Md
Nazimuddin delivered the welcome address.
A paper titled “Use of Information Technology in Enhancing Efficiency of
Internal Control System” was presented in the research workshop by Assistant
Professor of BIBM Dr Md Mahabbat Hossain on behalf of the research team.
Other members of the research team are – Md. Mohiuddin Siddique, Professor
and Director (Dhaka School of Bank Management) of BIBM Rahat Banu and
Lecturer of BIBM Kamal Hossain, among others, attended the workshop.
According to the BIBM study, effective and optimum use of IT in ICS
depends on the availability of IT infrastructure in terms of having an
adequate combination of IT hardware and software as well as the ability of
the bank employee in utilizing the maximum benefit from the IT.
Moniruzzaman said the banking system is heavily dependent on technology.
“From the use of core banking system to the use of internet banking, banks
have surged ahead,” he added.
He said banks can now monitor its different segments through the use of
sophisticated IT tools. “All the banks of Bangladesh have started the use of
IT in proving the internal control system,” he added.
He said Bangladesh Bank is always very active in bringing automation in
different possible spheres of banking business on the one, and the
development of internal control system through the issuance of different
prudential guidelines on the other.
Nazimuddin said output of the study along with opinions and observations
made today will help BB to take future actions.
Barkat-e-Khuda said development of a prudent ICS and proper implementation
of it would be supported by different stakeholders, both internal and
external.
“System of internal controls may be manual or computerized. In the
digitized world, banking process and control thereto may be conducted through
IT,” he added.
BSS/PR/KUC/ARS/1955 hrs