Mercantile Bank – a private commercial bank headquartered in Dhaka – will shut down all operations from 1 to 5 October, a central bank directive said on Wednesday.
The regulator's Department of Off-Site Supervision gave Mercantile Bank the approval on 14 September following its application.
According to the directive, Mercantile Bank Ltd will temporarily halt all banking activities for the five-day period to upgrade its core banking software. The Bangladesh Bank approved the move under the Bank Company Act, 1991.
During this downtime, the bank will suspend all transactions, ATM booth operations, card services, internet banking, mobile banking (My Cash), Islami banking, agent banking and other related operations.
The bank had previously shut down from 17 February to 21 February earlier this year for transferring its data centre.