Roadshow on Electronic Fund Transfer tomorrow

Citibank, N.A. Bangladesh will be organising a roadshow on Electronic Fund Transfer (EFT) across Bangladesh tomorrow (Tuesday) from 9:45am – 1:15pm at The Westin Dhaka. Through this initiative, Citi Bangladesh hopes to stimulate further utilisation of EFT system across the country in conjunction with the digital initiatives of the Bangladesh Bank. The event will be targeted to arrange exchange of views among the corporates, regulators and various Bangladesh Automated Clearing House (BACH) managers and shall try to find out further ways to increase use of EFT channel. The Roadshow will be comprised of 5 additional workshops in 2014 in country’s major Collection and Payment centers i.e. Bogra, Jessore, Comilla, Mymensingh and Sylhet. The objective of the roadshow is to reduce paper based process from the entire payment industry and thus adding more efficiency in the economic system. As real time gross settlement (RTGS) is expected to go live in 2015, therefore it is expected a culture of strong electronic payment system across the country will develop. Faster settlement cycle along with standardization in payment information transmission will not only help the clients to achieve efficient receivable cycle, but also help the communities across the country to get their goods and services far faster than what is prevailing currently. Nazneen Sultana, Deputy Governor, Bangladesh Bank will be present as the Chief Guest to inaugurate the roadshow. Mr. K M Abdul Wadood, General Manager, Payment System Department, Bangladesh Bank will remain present as the Special Guest. Noel Saminathan, Managing Director and Head of Cash Product, Southeast Asia, Citi will conduct a work session on “Electronic Payment Development in Southeast Asia and Aspirations for Bangladesh”, said a statement.