Dhaka, Bangladesh (BBN)- The central bank of Bangladesh launches the electronic fund transfer network on Monday to facilitate the country’s business activities, officials said on Sunday.
Bangladesh Bank (BB), the country’s central bank, Governor Atiur Rahman will inaugurate the system at its headquarters in the capital Dhaka.
The system, tagged as Bangladesh Electronic Fund Transfer Network (BFTN), will initially allow people make online money transactions, payment of utility bills through internet, transfer of funds (account to account), payment for goods and services, and facilitate online credit card payments in local currency.
People can later transfer fund from their accounts to the recipients in the country irrespective of their banks, the central bank officials added.
BBN/SSR/AD-28Feb11-1:14 am (BST)