BB to publish monthly online banking info

Posted by BankInfo on Tue, Apr 14 2015 10:51 am

Bangladesh Bank (BB) will publish information on online banking activities every month aimed at bringing transparency by reflecting changes in online banking transactions.

To materialise the target, the BB's Statistics Department on Monday has instructed all the scheduled banks to provide data on their e-commerce and e-banking activities of the immediate past month by 10th of every following month.

Under the previous directives, banks could submit e-banking and e-commerce data to the BB's statistics department once in a quarter.

The BB authority said information on e-banking and e-commerce will be compiled and analysed by the statistics department of the central bank to be included in the Monthly Economic Trends prepared by Bangladesh Bank.

The BB issued a circular seeking immediate compliance of all the scheduled banks in this regard.

Some 39 private commercial banks, including nine newly launched scheduled banks, are operating in the country. There are six banks in the public sector.

E-banking and E-commerce are getting popular day-by-day as the central bank has been facilitating online transactions through the National Payment Switch since early 2012.

All the scheduled banks, however, haven’t launched online banking system.

Though the private banks have been playing a leading role in providing online banking services to the clients, quality of services are yet to be fully satisfactory.

Some foreign banks operating in Bangladesh are providing full-swing online banking services.

The state-run banks lag far behind compared to the private and foreign banks in terms of online banking.
News:Daily Star/13-Apr-2015

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