BB signs deal with Swedish firm for Real Time Gross Settlement System
UNB, Dhaka :
Bangladesh Bank on Thursday signed an agreement with Sweden-based CMA Small System AB for installation of Real Time Gross Settlement System (RTGS) across the country.
Asian Development Bank is providing the financial assistance for implementing the RTGS which will accommodate bank’s own transactions, customers’ transactions, and transaction of other sub systems.
CMA Small Systems AB has installed more than 20 RTGS systems throughout the globe in 35 countries.
Executive director of Bangladesh Bank Shubhankar Saha and CMA official Alex Nazaroff signed the contract for their respective side at a function at the central bank’s conference room.
Bangladesh Bank governor Dr. Atiur Rahman and other top officials of the central bank were present.
Speaking at the function, Bangladesh Bank governor Dr. Atiur Rahman said that over the past few years, the central bank has been working relentlessly for the improvement of the payment systems in the country.
“We expect to complete the project within September 2015,” he said adding that through the introduction of RTGS, the central bank is going to improve the high-value time critical payments in the country.
Dr Atiur said that RTGS will accommodate local currency transactions, government security transactions and domestic foreign currency transactions. “RTGS is not only a state-of-the art payment system, but also a tool for mitigating credit and systemic risks in the economy.”
He said the central bank has introduced Automated Clearing House which is a milestone achievement in this regard. Afterward BB has implemented the National Payment Switch Bangladesh for streamlining country’s card-based payments.
The BB governor said now 28 banks have already joined NPS and 85% of ATMs are touching this NPS.
Speaking briefly, Alex Nazaroff said that RTGS will lead to higher level of modernization of payment system.
Bangladesh Bank on Thursday signed an agreement with Sweden-based CMA Small System AB for installation of Real Time Gross Settlement System (RTGS) across the country.
Asian Development Bank is providing the financial assistance for implementing the RTGS which will accommodate bank’s own transactions, customers’ transactions, and transaction of other sub systems.
CMA Small Systems AB has installed more than 20 RTGS systems throughout the globe in 35 countries.
Executive director of Bangladesh Bank Shubhankar Saha and CMA official Alex Nazaroff signed the contract for their respective side at a function at the central bank’s conference room.
Bangladesh Bank governor Dr. Atiur Rahman and other top officials of the central bank were present.
Speaking at the function, Bangladesh Bank governor Dr. Atiur Rahman said that over the past few years, the central bank has been working relentlessly for the improvement of the payment systems in the country.
“We expect to complete the project within September 2015,” he said adding that through the introduction of RTGS, the central bank is going to improve the high-value time critical payments in the country.
Dr Atiur said that RTGS will accommodate local currency transactions, government security transactions and domestic foreign currency transactions. “RTGS is not only a state-of-the art payment system, but also a tool for mitigating credit and systemic risks in the economy.”
He said the central bank has introduced Automated Clearing House which is a milestone achievement in this regard. Afterward BB has implemented the National Payment Switch Bangladesh for streamlining country’s card-based payments.
The BB governor said now 28 banks have already joined NPS and 85% of ATMs are touching this NPS.
Speaking briefly, Alex Nazaroff said that RTGS will lead to higher level of modernization of payment system.
