Non-bank entities can soon set up ATMs

The central bank will allow non-bank entities to set up automated teller machines (ATMs) and point of sale (POS) terminals as it ramps up efforts to promote card-based transactions across the country.

The move will help people in distant parts of the country to     settle their transactions without going to banks as some private companies already have plans to install a large number of ATMs, said a Bangladesh Bank official.

At present, only banks are allowed to set up ATM and POS, but they are now showing little interest in expanding the facilities given the high maintenance cost, additional manpower and high security measures.

The central bank has been working on the issue for long and has almost completed all relevant work to roll out the service.

A guideline will be issued within the next couple of months, the BB official added