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Bangladesh implements RTGS

The Bangladesh Bank has launched the real time gross settlement system in the country. RTGS will ease the cash transactions across the banking sector. Under the RTGS, any bank will be able to transfer a minimum of Tk 100,000 to another bank instantly. Governor of the central bank Atiur Rahman said RTGS is a great achievement for the banking sector of Bangladesh. Implementing the system will have a substantial impact on the current operations in the banks, particularly in the areas of treasury, payment, corporate banking and cash management system. With the financial assistance from ADB, RTGS is being implemented under a component named Remittance and Payment Infrastructure Development. Atiur Rahman said the establishment of state-of-the-art payment infrastructure will send a clear signal about Bangladesh’s concerted effort of digitized Bangladesh to non-resident Bangladeshi’s and foreign investors to remit, transfer and invest in Bangladesh.

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