A recent study on the use of artificial intelligence (AI) in Bangladesh’s banking sector has revealed that 60 percent of banks do not have AI policies in place for cybersecurity. Only 40 percent of banks have such policies. Furthermore, 68 percent of banks lack guidelines for AI-based bank management.
The findings were presented at a roundtable discussion titled “Use of Artificial Intelligence in Cybersecurity Management in the Banking Sector”, organized by the Bangladesh Institute of Bank Management (BIBM). The research was conducted collaboratively by three BIBM faculty members and two officials from Bangladesh Bank and Eastern Bank PLC, covering data from 38 banks. The study was presented by BIBM Director and faculty member Md. Shihab Uddin Khan. The session featured an online address by Deputy Governor of Bangladesh Bank, Nurun Nahar, and was attended by Mohammad Ali, MD of Pubali Bank, Osman Ershad Faiz, Additional MD of Eastern Bank, Muhammad Ishak Mia, CEO of Bangladesh Data Center and Disaster Recovery Site Limited, and SM Abdul Hakim, Director General of BIBM.
The research also assessed the IT infrastructure readiness of banks to implement AI-driven cybersecurity tools. Findings show that 69 percent of banks are partially ready, 11 percent claim to be nearly fully prepared, and another 11 percent are fully prepared. In contrast, 9 percent of banks are not yet ready.
When it comes to disaster recovery planning, only 5 percent of banks use AI, while the remaining 95 percent do not.
Md. Shihab Uddin Khan emphasized, “Modernization has occurred across financial and other sectors globally, but cyberattacks are also increasing. Using AI is essential to ensure adequate security.”
Deputy Governor Nurun Nahar noted, “Online banking, internet, and telecom-based banking operations are central to the global banking sector. AI can help banks detect abnormal activities and prevent malware and fraud. Cybersecurity is not just about technology—it is a strategic matter. Bangladesh Bank is regularly updating policies for e-banking, e-commerce, mobile banking, and online payments.”
Mohammad Ali, MD of Pubali Bank, said, “AI is gaining importance worldwide, rapidly being adopted in transport, healthcare, and banking. In the next 10–15 years, AI and robotics will coexist with human life. Strategic planning must start now.”
Osman Ershad Faiz, Additional MD of Eastern Bank, added, “Banks must modernize further, or external financial institutions will take over business. The new generation wants everything on apps. MDs and CEOs also need technical training. Gamification-based training can enhance awareness.”
Muhammad Ishak Mia, CEO of Bangladesh Data Center and Disaster Recovery Site, remarked, “Although most banks have significant technology investments, how effectively these are utilized is questionable. The concept of IT for Business has not yet been fully implemented.”
The study underscores that AI adoption and cybersecurity in Bangladesh’s banking sector still face major challenges, which must be addressed urgently through effective policies and training.