RTGS sets new schedule of transaction settlement

Staff Reporter :
Bangladesh Bank has announced a new schedule for the Bangladesh Real Time Settlement (RTGS) system in order to facilitate instant money transfers before Eid holidays.

Banks will be open on Friday-Saturday and Sunday on Shab-e-Qadr holiday (April 5, 6, and 7) in industrial areas under special arrangement.

The Payment Systems Department of Bangladesh Bank issued an instruction in this regard on Thursday.

RTGS is an electronic system for the instant settlement of transactions.

Currently, banks in the country are using this system to transact with the central bank and customers.

According to the announcement on Friday, April 5, RTGS customers will be able to make transactions from 9:30 a.m. to 12:30 p.m.

Interbank fund transfers and returns can be made from 9:30 a.m. to 12:45 p.m.

On Saturday, April 6, and Sunday, April 7, RTGS customers will be able to make transactions from 9:30 a.m. to 1:00 p.m.

Interbank fund transfers and returns can be made from 9:30 a.m. to 1:15 p.m.

The central bank has been instructed to keep banks open in industrial areas during the three- days before Eid holidays.

According to the instructions, there will be a three-day holiday from Friday, April 5, to Sunday, April 7, including the weekly holiday on Friday and Saturday and Shab-e-Qadr on Sunday.

Banks will also be closed during this time.
However, banks in the garment industry area have been asked to remain open on a limited scale in the industrial areas concerned for the convenience of payment of salaries, bonuses, and other allowances to the workers, employees, and officers working in the garment industry and for the sale of export bills on the occasion of Eid-ul-Fitr.

Transactions will be conducted at the designated branches during those three days at the specified times.