Govt to implement AVS nationwide by June to prevent fraud

Senior officials from Bangladesh Bank (BB) and the Finance Division have announced that the government will implement the Account Verification System (AVS) nationwide by June to ensure the accuracy of customer accounts as part of its initiative to make government transactions cashless, reports BSS.

The system aims to enhance transparency and accountability in public expenditure while effectively preventing fraud and financial waste, according to participants in a recent workshop.

The workshop revealed that AVS was launched on a trial basis on January 26, 2025, in four Chief Accounts and Finance Offices (CAFOs)-- the Local Government Division, Health Services Division, Public Security Division, and the Ministry of Primary and Mass Education, said a press release on Saturday. It was further stated that AVS will be implemented in all accounting offices across the country by June 2025.

The workshop, held this morning at the Bangladesh Bank Training Academy in Mirpur, focused on integrating the iBAS++ system with Bangladesh Bank's systems, piloting AVS, and formulating an implementation roadmap for the next phases.

It was organised by the iBAS++ scheme of Strengthening Public Financial Management Programme to Enable Service Delivery (SPFMS) under the Finance Division.