KARACHI: In a significant move to bolster security across financial institutions, the State Bank of Pakistan (SBP) has announced revisions to the installation guidelines for Close Circuit Television (CCTV) cameras at bank branches.
As per revised instructions, the SBP has advised banks and MFBs to update their internal SOPs for installation points of CCTV cameras.
Based on the representations received from various stakeholders and to facilitate the phased installation of CCTV cameras, the SBP has made some revisions to improve the operations of CCTV.
Banks/MFBs are advised to update their internal Standard Operating Procedures (SOPs) to prescribe and standardize, inter alia, installation points of CCTV cameras within and around branch premises (e.g. ATM vestibules, branch entrances, and any vantage point(s) outside branches), minimum preservation period of visual records, and quality of cameras deployed including minimum required resolution standards to enable round-the-clock recording.
Moreover, Banks/MFBs will install CCTV cameras of at least five (5) Megapixels (MPs) instead of the earlier advised specification of at least six (6) MPs, along with allied paraphernalia (storage devices, wiring, etc.).
To facilitate the phased installation, banks/MFBs are advised to install the prescribed CCTV cameras at all critical points of the existing branch premises that are located in Tier 1 cities, as provided in Branch Licensing Policy and high-risk geographies by March 31, 2025.
For this purpose, Banks/MFBs will define high-risk geographies, and the number & location of critical points in and around branch premises in their updated internal SOPs for installation of CCTV cameras; and in all new branches to be established and existing branches to be renovated under the normal course of the annual budgeted plan. These requirements will also be applicable to all new branches being established and existing branches being renovated under the annual budget for CY2024, where procurement orders for CCTV cameras and related paraphernalia have not been placed.
The SBP said that Banks/MFBs may, at their discretion, opt for the accelerated installation of prescribed cameras across their entire branch network. Moreover, SBP has advised the banks/MFBs to submit a plan for implementation of the above regulatory instructions to the relevant Banking Supervision Department.
Copyright Business Recorder, 2024
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