Real time gross settlement system (RTGS) is going to be implemented by Bangladesh Bank for settlement of high value transactions and securities in our banks. Once the system is introduced, it will resolve various issues involving risks associated with the banks. Under the existing system it takes a day to settle high value transactions, whereas RTGS will settle the same in real time within the day.
RTGS will facilitate the banking payment system to a great extent. Recently Bangladesh Bank, the central bank of the country, organised a meeting with private banks and disclosed details of the system. I had the opportunity to attend the meeting where bankers were present. The central bank directed the banks to get prepared for introduction of the system as it is going to be implemented soon. Bangladesh bank inked an agreement with CMA, a Swedish company which has implemented the system in some 25 countries around the world. Our neighbouring countries like India and Pakistan have already introduced the system. Belated though, Bangladesh Bank is about to launch the system, which is a commendable job. But in order to make the system fully functional so that it yields desired results, bank officials should be imparted proper training. Particularly, the treasury men who handle the job directly need to be trained up to make the RTGS system effective.
Md. Zonaed Emran
Senior executive officer
The farmers bank Ltd.
zonaed.emran@gmail.com
RTGS
FE Team | Published: March 03, 2015 00:00:00 | Updated: November 30, 2026 06:01:00
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