ISLAMABAD: The State Bank of Pakistan (SBP) has instructed all banks and microfinance institutions (MFIs) to improve the functioning of Closed Circuit Television (CCTV) cameras within and around their branches.
In response to feedback from various stakeholders and to support the gradual installation of CCTV cameras, the central bank has revised its Circular Letter No. 31 of 2022, initially issued on October 26.
According to the updated guidelines, banks and MFIs are required to revise their internal Standard Operating Procedures (SOPs) to include standardized specifications for the placement of CCTV cameras in and around their branches (e.g., ATM areas, branch entrances, and key external points), the minimum duration for retaining video footage, and the quality of the cameras, including resolution standards, to ensure 24/7 surveillance.
Additionally, the updated circular specifies that banks and MFIs must now install CCTV cameras with a minimum resolution of five (5) megapixels, down from the previously recommended six (6) megapixels, along with the necessary equipment such as storage devices and wiring.
To facilitate phased installation, the SBP has advised banks and MFIs to install the required CCTV cameras at all critical locations within branches situated in Tier 1 cities, as defined by the Branch Licensing Policy, as well as in high-risk areas by March 31, 2025.
Banks and MFIs are expected to identify high-risk areas and determine the number and placement of critical surveillance points both inside and outside branch premises, incorporating these details into their updated SOPs.
These requirements also extend to all new branches and those undergoing renovation in 2024, provided that procurement orders for CCTV cameras and related equipment have not yet been placed.
The SBP has stated that banks and MFIs may choose to accelerate the installation of the prescribed cameras across their entire branch networks at their discretion.
