They shouldn't even disallow screenshots from a security measure. If the user wants to take a screenshot of their bank account info or a password manager they should. Maybe an additional permission for screenshare. No device has protection against a second device taking a recording so it's really just security theater

It's all "security" and all until your banking app has a bug that breaks exporting bank statements and the only way to get it out is to take screenshots - which are blocked as well. Oh, and you need to submit it by today.

At least on rooted Android devices you can bypass that.