Bangladesh Bank (BB) governor Dr. Atiur Rahman on Saturday said Banking Payment Systems Act would be formed soon. “BB has already drafted a Payment Systems Act which will be sent shortly to the Finance Ministry for enactment,” Dr. Atiur said.
He further said BB had taken initiative to streamline the ATM/PoS services of all commercial banks by introducing a common SWITCH for ATM/PoS within next year with a view to easing the services to the clients.
The central bank governor made the comments while speaking as chief guest at a public-private dialogue on “e-payment in Bangladesh: Opportunities and Challenges” at a city hotel on Saturday.
The dialogue was jointly organized by Dhaka Chamber of Commerce and Industry (DCCI) and BB with the support of Bangladesh Investment Climate Fund (BICF).
E-payment is very important to ensure the economic growth and development of a smart payment system as well as easy trade system, Dr. Atiur said.
“The e-payment system will reduce 1.10 per cent transaction’s cost of both clients and commercial banks than the general payment system,” he said.
If it is possible to introduce mobile banking system with e-payment, the rural economy will get more speed, he added.
BB has recently allowed 11 scheduled banks offering Mobile based Banking Services, he said adding BB decided to put a uniform guideline for this after getting some more proposal.
BB governor urged all to come forward with responsibility and professionalism to create a business-friendly environment, reduce cost of doing business and make vibrant economy.
DCCI President Asif Ibrahim in his welcome address stressed awareness building on e-payment facilities among the banks and financial institutions.
Electronic payment will facilitate economic growth as it will increase the efficiency of payment system, he added.
Executive Director of BB Dasgupta Asim Kumar said that Bangladesh bank recently launched Electronic Fund Transfer Network and its benefit would be immense and effective.
He called upon the business community to utilize this facility which would ease their payment system.
Programme Manager of International Finance Corporation (IFC) Dr Masrur Reaz said that e-payment system would ensure transparency and accountability.
After the inaugural session a public-private dialogue session was held where Deputy Director of BB Khandaker Ali Kamran Al Zahid, DCCI Senior Vice President T.I.M. Nurul Kabir and Associate Operations officer of IFC Azad Rahman and Dr. Kazi Saifuddin Munir of Q-Cash gave power point presentation at the second session.

News: The Independent/ bangladesh/ Jun-05-2011