Electronic banking continued

Legal Framework of E-Banking in Bangladesh

 E-commerce & E-banking have been primarily legalized via introduction of "ICT Law 2006"
 ICT Policy 2009 has just been introduced
 However, no comprehensive legal framework exists for E-commerce, in general, and E-banking, in particular
 Bangladesh Bank has passed “Payment and Settlement Systems Regulations 2009” to regulate and ensure a secure and efficient payment and settlement systems in the country
 There are certain shortcomings - such as e-signature, lack of significant penalties for frauds and other abuses and lack of adequate provision for E-banking, especially e-payments
 Bangladesh Bank has very recently permitted debit/credit transactions through website and third party fund transfer through Internet banking