· Mainly rented for storing valuables
· Demand for large lockers is increasing
· Customers alleged to be misusing the service
· Comprehensive policy to make locker services more secure
Demand for lockers is increasing at a massive rate in banks operating in the country. As a result, banks are also increasing the range of locker services. Bank lockers are mainly rented by customers for storing valuable documents, papers, ornaments and other essential items.
Until now the demand for small and medium lockers was high, but now the demand for large lockers is increasing. And keeping pace with this increased demand, banks are not able to provide lockers as required by the customers. In such a situation, some banks are increasing the number of lockers. Some banks are also converting small lockers into big lockers. Demand for large lockers is increasing in bank branches in various residential areas of the capital including Gulshan, Banani, Dhanmondi, Uttara, Bashundhara, Motijheel. The same situation is seen in the divisional and important cities of the country. And to deal with the situation, the banks are increasing the range of locker services as well as the charges or fees of the service. This information is known from sources related to the banking sector.
According to the relevant sources, the bank has no opportunity to see or verify what the customers keep in the lockers rented from the bank. As per rules every locker key has two parts. One part remains with the customer, the rest with the bank. Both parts of the key are required to open the locker. When the customer goes to the bank, the concerned officer unlocks the locker by combining two parts of the key. No one is allowed to be present while using the customer locker. In such a situation many customers are alleged to be misusing the service. Cash dollars and foreign currencies are kept in lockers. The trend of keeping foreign currency in lockers is also contributing to the worsening dollar crisis in the country. The demand for large lockers in banks is increasing mainly due to keeping valuables such as dollars and gold ornaments.
According to sources, almost all commercial banks in the country have locker services. However, the banks which have more retail services and number of customers are ahead in terms of locker services. Banks of the country have been providing locker services to customers since independence. The service has seen the greatest expansion over the last two decades. State-owned Sonali Bank has locker service in 54 branches. The annual charge of small locker of the bank is 2 thousand tk. Charges for medium and large lockers are Tk 2,500 and Tk 3,000 respectively. Other state-owned banks are also offering locker services to customers at almost the same charges. But the locker charges of private and foreign sector banks are very high. IFIC Bank is charging Tk 5,000 for small lockers, Tk 10,000 for medium and Tk 12,000 for large lockers. This private sector bank has locker services in total 41 branches across the country including 14 in Dhaka. Moreover, The City Bank Limited of the private sector is quite advanced in providing locker services to customers. Locker service is available in 36 branches of the bank. The bank has about 4 thousand lockers. Among them 1 thousand 724 lockers are small. 573 of them are currently vacant. Although the small lockers are empty, the bank`s demand for large lockers is high. Out of 923 large lockers of City Bank, 757 are now on rent. City Bank is charging Tk 5,000 for small lockers, Tk 7,000 for medium and Tk 9,000 for large lockers. The demand for large lockers has been increasing in the last two-three years. Especially in the residential areas of Dhaka, the demand for large lockers is high. Due to increasing demand, the number of large lockers has been increased. Other banks are also adding larger lockers.
Meanwhile, Bangladesh Bank does not have any information about this even though the bank provides locker service. All other assets and liabilities of the banks are inspected by the central bank but no supervision is done on the lockers. The central bank does not have any information about how many lockers banks have in the country or exactly how many customers are taking locker services. The locker service is being operated in the country based on the notification of Bangladesh Bank. In such a situation, the bank officials demanded to bring locker service under the supervision of Bangladesh Bank. According to them, Bangladesh Bank needs a comprehensive policy to make locker services more secure and risk-free. Besides, if central bank supervision is increased, banks as well as customers will also be wary of lockers.
On the other hand, Bangladesh Bank`s executive director and spokesperson said. Majbaul Haque said that all the responsibility of the locker service is of the customer. No one from the bank is present when the customer opens the locker. Now if a customer keeps any illegal equipment including dollars in the locker, in that case neither the concerned bank nor the central bank can do anything. Law enforcement forces can open the locker in the presence of the customer concerned with the permission of the court if they want to search the contents of the locker. Bangladesh Financial Intelligence Unit (BFIU) and National Board of Revenue (NBR) also have powers.
JH
