Transaction of savings tools to be automated

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FE Report
The central bank will soon ask all commercial banks to bring transaction of the savings instruments under automation system, sources said.
They said the purpose of automation of such transaction is to check forgery and make the process easier and quicker.
"We have already exchanged views with the officials and IT experts of 30 banks in this regard," an official source at the Bangladesh Bank (BB) told the FE Monday.
At a meeting, he said, the participants were shown how the process works under an automation system.
He said another meeting will be held on September 3 with the officials concerned of the remaining banks to know their opinion.
When asked, a BB official said representatives of the banks, who already exchanged views with the central bank, responded positively to the central bank's plan on automation.
Under the new system, if introduced, banks will be required to develop software for sending soft copy of sales report on savings instruments to the BB with a computer disc to enable the later load the same in its record, sources said.
Currently, they said, the bank branches in the city give a manually prepared statement on savings instruments to the BB within three days from the date of transaction.
And the bank branches in other places have to give similar statement to the BB within seven days, they added.