DHAKA: The Real Time Gross Settlement (RTGS), an online transaction for banking will increase 1 percent of the GDP (Gross Domestic Product).
The system will enable a secure banking on inter-banking transaction. State owned banks will also get the benefit from the system within next year.
Bangladesh Bank (BB) senior system analyst Rahat Uddin said while addressing the ‘Meet the Press’ at National Press Club in city on Monday.
All the private and state owned banks will be benefited through the technology based transaction system of RTDS.
All state owned banks will be connected over Core Banking System (CBS) by 2016. Bangladesh Bank is working on a project with World Bank to implement this, Rahat Uddin said while answering to a question from a correspondent about the state owned bank’s participation in RTGS.
Bangladesh Bank and Chief Technical Officers’ Forum, an association of technology related top officials of public and private agencies, jointly organized the meeting to share about the progress of RTGS in the country.
CTO Forum president Tapon Kanti Sarkar welcomed all in his introducing speech including basic concepts of RTGS.
BB Payment System Department deputy director Khandakar Ali Kamran Al Zahid, senior system analyst Himadri Shekhor Sardar, South-East Bank (SEB) deputy managing director (DMD) SM Moyeen Uddin Chowdhury, CTO Forum secretary general Masudul Bari and Flora Limited managing director Mostofa Shamsul Islam, among others, spoke at the program.
CTO Forum president Tapon Kanti Sarkar said, ‘RTGS is an instant fund transferring system that will secure our banking experience than past. BB is working for introducing two way verification system in online payment. CTO Forum is always with them”.
CTO Forum secretary general Syed Masodul Bari said, ‘CTO forum is a platform where the top technical executives of all agencies are working for enabling a good technology friendly environment in addition of their professionals’ duties. CTO Forum will assist all good initiative of BB including RTDS’.
SEB deputy managing director Mayeen Uddin Kamran said, ‘RTDS system will increase the pace of money. To get good result from the initiatives all commercial institutes should introduce kiosks’.
He said, ‘Bangladesh is now second largest country leading mobile financial service in the world. The RTDS will be a alternative electronic platform of manual transaction. Many of commercial banks have introduced paperless banking according the directive of Bangladesh Bank’.
RTDS is an inter-banking transaction system where minimum Tk 1 lakh can be transferred to other banks within moments. The system will help the banks to reduce the velocity of money, the official said.
BDST: 2025 HRS, MAY 25, 2015
RR/SMS
