BB makes outsourcing policy for banks January 20, 2015 · - TopicsExpress

BB makes outsourcing policy for banks January 20, 2015 · Bangladesh Bank has, for the first time, prepared an outsourcing policy for banks using third-party service at home and abroad to help them mitigate risks and meet regulatory requirements. · Banking institutions throughout the world are increasingly turning to outsourcing as a means to reduce costs and achieve strategic aims. When these third-party service providers handle much of banks activity -- regulated or unregulated, it may impact their ability to manage their risks and monitor compliance with regulatory requirements. · The new policy allows banks to outsource 20 types of activities to service providers within Bangladesh, and prior approval of the central bank will not be required for using the services. From thedailystar.net/business/bb-makes-outsourcing-policy-for-banks-60741

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