Banks asked to introduce QR-based verification for visa documents

Bangladesh Bank (BB) has instructed banks to introduce digital verification systems for bank statements and other financial documents submitted by customers for visa applications abroad.

In a circular issued today, the central bank said Bangladeshi citizens are often required to submit bank statements, solvency certificates, investment certificates, and similar documents to embassies or visa centres while applying for visas to different countries.

However, embassies and visa centres frequently face difficulties in instantly verifying the authenticity of these documents, the BB said.

To reduce processing time and administrative costs, and to make verification easier and more reliable, the central bank said such documents must immediately be made digitally verifiable.

Under the new directive, banks have been advised to follow several measures while issuing documents related to visa applications.

Banks must include a digitally verifiable QR code in bank statements, solvency certificates, investment certificates, and similar documents requested by customers for visa purposes.

By scanning the QR code, embassies or visa centres should be able to verify at least the following information related to the customer: bank statement, account number, account name, opening balance on the statement date, closing balance on the statement date, and statement generation date.

The central bank also instructed banks to ensure that the information remains stored and digitally verifiable for at least six months.

Banks have been given 90 days from the date of the circular to prepare and implement the required systems.

The BB further said banks must ensure compliance with existing cybersecurity and data protection regulations while introducing the new verification mechanism.

The instruction was issued under Section 45 of the Bank Company Act, 1991, and came into effect immediately.