BB gives banks, NBFIs until Dec, 2015 for e-tendering

The Bangladesh Bank (BB) has directed all banks and non-banking financial institutions (NBFIs) to introduce e-tendering (electronic tendering) system by December 2015, reports BSS.

The central bank issued the directive on Thursday in line with its steps towards promoting green banking and developing eco-friendly internal management of banks and financial institutions.

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

"E-tendering will ensure transparency, accountability and efficiency besides accelerating the procurement process," the BB said.

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

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