The government will process all public transactions electronically within the next couple of months, said Bangladesh Bank’s (BB) Governor on Thursday. While addressing the launching ceremony of ‘ICBI Easy Pay’, a new product developed by ICB Islamic Bank Ltd based on Electronic Fund Transfer Network (EFTN) in Motijheel, Governor Dr Atiur Rahman said, “Initially, public transactions such as the disbursement of salaries and civil servant wages will be transferred electronically.”
Dr Atiur Rahman said the scheme’s objective is to provide a safe, fast and hassle-free service to civil servants.
He said that by the beginning of 2013, both public and private transactions will be made through the ‘e-payment gateway,’ as the central bank has already made good progress towards launching the gateway service.
The governor said the effective use of the e-payment gateway will result in the expansion of e-commerce across the country, by ensuring inert-operability between the Automated Teller Machine (ATM) and Point of Sales (PoS) terminals.
While describing ICBI Easy Pay service’s prime features, ICB’s managing director Mamoon Mahmood Shah said, “Banks clients will benefit from a flexible system of remitting or automatically forwarding funds to any Bangladeshi bank branch within 24 hours.”
“This safe, smart facility can be used to pay EMIs (Equated Monthly Installments), loans, refunds, tuition fees, salaries, club or association membership fees, utility bills and taxes,” Mamoon added.
Among others, deputy governor of the central bank Abul Quashem and executive directors Md. Ahsanullah and Dasgupta Asim Kumar were present at the launching ceremony.
-With The Independent input
