Circular No. 05 dated 16 March 2023 issued by the Banking Regulation and Policy Department of the Bangladesh Bank on “Guidelines on Cloud Computing”

Aiming to mitigate cyber risks and maintain the overall stability of the financial sector, the Bangladesh Bank has issued guidelines on cloud computing, which apply to banks, non-banking financial institutions, mobile financial service providers, payment and settlement systems, payment system operators, and other financial service providers.

The guidelines aim to ensure business continuity, resilience, and recovery capabilities. They lay out certain parameters to meet security and data privacy requirements and specify the roles and responsibilities of the relevant stakeholders with regard to organizational security, privacy, and computing requirements.

However, the guidelines do not prescribe or recommend any specific cloud computing service, service arrangement, service agreement, service provider, or deployment model. Service users must perform their own analysis to determine if the arrangement meets their strategic aims and complies with regulatory requirements, while managing any associated risks.