Bangladesh Bank yesterday asked all scheduled banks to speed up transactions to ensure better services to the people especially during the holy month of Ramadan and before the Eid-ul-Fitr.

The central bank suggested the banks to sincerely follow the EFT (electronic fund transfer) return rules to accomplish financial transaction in a faster way, said a central bank circular.

The BB issued the directive after receiving allegations against some banks that they were not following the time-limit of electronic fund transfer, stipulated in the guideline for the Bangladesh Electronic Funds Transfer Network (BEFTN).

According to the guideline, banks should present the EFT return for credit in 48 hours and the EFT return for debit in 24 hours of their entry so people can get faster services in financial transactions.

Banks have been asked to comply with EFT returns rules properly to ensure faster client service, said the circular.