Karachi, October 10, 2024 – The State Bank of Pakistan (SBP) has issued revised directives regarding the installation of Closed-Circuit Television (CCTV) cameras by banks and microfinance banks (MFBs). These revisions, based on input from various stakeholders, are aimed at facilitating the phased implementation of enhanced surveillance measures while ensuring the security of banking operations nationwide.
The SBP’s updated instructions urge banks and MFBs to amend their internal Standard Operating Procedures (SOPs), providing detailed guidelines on the placement, maintenance, and quality of CCTV systems within and around their premises. The revisions emphasize the strategic positioning of CCTV cameras at critical points such as ATM vestibules, branch entrances, and other vantage points surrounding the branches. These updates aim to enhance monitoring capabilities, ensuring round-the-clock surveillance and addressing any potential security threats.
Significantly, the SBP has revised the previously mandated specification of CCTV cameras from at least six megapixels (MPs) to a minimum of five megapixels. The decision, likely to accommodate practical considerations raised by banks and MFBs, still underscores the importance of maintaining high-resolution footage, enabling comprehensive visual records that can be crucial for security purposes. Along with the cameras, banks are required to install supporting paraphernalia, including storage devices and cabling, to ensure uninterrupted recording and preservation of data for a minimum prescribed period.
The SBP has set clear timelines for compliance. Banks and MFBs are required to install CCTV systems at all critical points in existing branches located in Tier 1 cities—categorized as high-risk geographies—by March 31, 2025. Banks are responsible for defining high-risk areas within their updated SOPs and ensuring appropriate surveillance at all designated locations.
Moreover, these requirements will extend to all newly established branches and those undergoing renovation, in line with the annual budgeted plans for 2024. Banks and MFBs that have not yet placed procurement orders for CCTV equipment are required to comply with the revised specifications.
The SBP has also left room for flexibility, allowing banks to expedite the installation of CCTV systems across their entire branch network if they choose to do so. However, all banks and MFBs are mandated to submit an implementation plan for these regulatory instructions to the relevant Banking Supervision Department, ensuring full compliance and oversight.
The revised guidelines reflect the SBP’s proactive approach to fortifying security measures within the banking sector while addressing stakeholder concerns and operational feasibility. This initiative is expected to bolster security frameworks, safeguard assets, and enhance the overall safety of banking operations across Pakistan.