Dhaka, Bangladesh (BBN)- The US-based Citibank, N.A. Bangladesh is organizing a roadshow on Electronic Fund Transfer (EFT) across Bangladesh.
Bangladesh Bank (BB) Deputy Governor Nazneen Sultana will inaugurate the roadshow on Tuesday at a city hotel. Following the inaugural session, Noel Saminathan, Managing Director and Head of Cash Product, Southeast Asia, Citi will conduct a work session on "Electronic Payment Development in Southeast Asia and Aspirations for Bangladesh".
Through this initiative Citi Bangladesh aims to stimulate further utilization of EFT system across the country in conjunction with the digital initiatives of the Bangladesh Bank.
The Dhaka event will be targeted to arrange exchange of views among corporate, regulators and managers of the Bangladesh Automated Clearing House (BACH) to find out the ways to increase use of EFT channel. The roadshow will be comprised of five additional workshops this year in country's major collection and payment centers in Bogra, Jessore, Comilla, Mymensingh and Sylhet.
"Faster settlement cycle along with standardization in payment information transmission will not only help the clients to achieve efficient receivable cycle, but also help the communities across the country to get their goods and services far faster than what is prevailing currently," a Citi said.
The objective of the roadshow is to reduce paper based process from the entire payment industry and thus adding more efficiency in the economic system. As the Real Time Gross Settlement System (RTGS) is expected to go live in 2015, the roadshow also aims to promote a culture of strong electronic payment system across the country.
BBN/SSR/AD-26Aug14-1:31 am (BST)