Banks, NBFIs asked to introduce e-tendering by December 2015

Last updated: September 18, 2014

Dhaka, Bangladesh (BBN) - The central bank of Bangladesh on Thursday asked all banks and non-banking financial institutions (NBFIs) to introduce e-tendering (electronic tendering) system by December 2015.

The Bangladesh Bank (BB) issued a circular on the day in line with its steps towards promoting green banking and developing eco-friendly internal management of the banks and financial institutions.

BB said the e-tendering should be web-based and connected with the websites of the respective banks and NBFIs. The banks and NBFIs would seek technical support from the central bank.

"The e-tendering would ensure transparency, accountability and efficiency besides accelerating the procurement process," it noted.

The central bank introduced the e-tendering system in May 2010 for its own procurements.

The e-tendering enables both local and international bidders to take part in the bidding in a process, free from any external influences unlike the traditional paper-based tendering process.

BBN/SSR/AD-18Sept14-7:55 pm (BST)

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