United News of Bangladesh

The authorities of Islamic University in Kushtia launched an e-payment service for the students of the university with a view to simplifying transactions for them. Read: 5 injured in BCL factional clash at Islamic University IU vice-chancellor Professor Shaikh Abdus Salam inaugurated the e-payment service at an e-payment application launching ceremony as chief guest, a press release issued by IU information, publication and public relations office deputy director Rajibul Islam on Saturday (November 25, 2023). The service will allow the students to pay all sorts of fees, including admission, examination, and residential hall fees, online without having to go to the bank. Read: Islamic University and Edith Cowan University to undertake joint academic, research activities  Through the e-payment service software of Agrani Bank, students will be able to pay money through bKash, Nagad, and Rocket using their ID. This service will be available to all students from the 2017-18 academic session of the university. The online banking service will be a convenient and efficient way for students to pay their fees, IU acting registrar HM Ali Hasan said that the e-payment service would save students time and hassle. Read: Islamic University officials continue work abstention for 2nd day  It would also help to reduce the number of people visiting banks. The service was expected to be well-received by students, he added.

Binimoy, an interoperable digital transaction platform, will be launched Sunday and transactions through it will be available from the next day. Prime Minister's ICT Adviser Sajeeb Wazed Joy will inaugurate the breakthrough platform. Governor of Bangladesh Bank Abdur Rouf Talukder will preside over the session. In recent years, the government took steps to make all banks, mobile financial services, and PSP accounts interoperable. Read: Youths will take Bangladesh forward with merit, hard work and patriotism: Sajeeb Wazed It will facilitate transactions between consumers, merchants, PSPs, e-wallets, banks, financial institutions, government agencies, and private organizations, said a media statement on Saturday. Binimoy will make all forms of financial transactions cost-effective, simple, and transparent, including the payment of employee wages, the sending of remittances, the payment of taxes/VAT, the payment of utility bills, and e-commerce transactions. The web-based platform will be integrated as a service into the apps of banks, mobile financial services, and payment system providers. Read: Young Bangla celebrates the power of changemakers at the grassroots Velwire, Microsoft Bangladesh, and Orion Informatics collaborated on the development of the platform as part of the Innovation and Entrepreneurship Development Academy (IDEA) programme of the ICT Division and the Bangladesh Bank. Velwire will uphold the responsibilities of Binimoy. Bangladesh Bank in a notice Thursday issued guidelines regarding the cost of the interoperable digital transaction platform.    

Bangladesh Bank has started instant foreign currency transactions, from bank to bank, through online-based real time gross settlement (RTGS). Banks are primarily clearing and settling in US dollars, pounds, euros, Canadian dollars, and Japanese yen. Bangladesh Bank Governor Abdur Rouf Talukder officially inaugurated the RTGS program at the headquarters of the central bank in Motijheel today (September 4, 2022). Deputy governors Ahmed Jamal and Kazi Sayedur Rahman, President of FBCCI Md. Jasim Uddin, MCCI president Saiful Islam, Chairman of Association of Bankers, Bangladesh Selim RF Hossain, and senior officials of the central bank, among others, were present at the event. Read: Banks instructed to campaign for bringing back laundered money Earlier, these five currencies – US dollar, British pound, euro, Canadian dollar, and Japanese yen – were settled in the traditional transaction system. In this method, banks use paper documents, and the bank officials settle the transaction. It was time-consuming and costly, said Md Serajul Islam, executive director and spokesperson of Bangladesh Bank. From today (Sunday), banks will be able to settle transactions instantly without any hassle through the RTGS system, he said. The Chinese currency yuan can be traded against five foreign currencies. Bangladesh Bank issued a notification on August 28 to start instant foreign currency transactions through RTGS.

Banks will remain closed on Sunday also as per new instructions of the Bangladesh Bank following the countrywide strict lockdown that began on Thursday, July 1.A circular of the Bangladesh Bank, issued on June 30, said the banks will remain closed also on Sunday in addition to Friday, Saturday weekends during the lockdown until July 7.Banks will conduct transactions from 10 am to 1:30 pm during the 7-day restrictions. Also read: Banks to transact from 10 am to 3 pm from until June 16 However, they can operate until 3:30 pm for conducting their other office activities.  The new schedule comes into effect from July 4 (Sunday).The normal transaction hours of banks  are from 10 am to 4pm.During this period, the head offices of banks will remain open while state-owned banks will keep open one branch at district level and one branch at upazila level while private banks will keep open one branch at district level and maximum two branches outside the district level with limited manpower.The bank authorities will take measures to provide transportation support to their staff in consultation with the local administration. The banks will keep open their principal and authorized dealer (AD) branches with required staff while internet banking service will continue for 24 hours. Also read: Banks can open during local lockdown, says central bankThey have to ensure operation of ATM booths to facilitate transactions through cards by supplying adequate cash in the machines while the evening banking and weekly holiday banking activities will remain suspended until further order, said the circular issued on April 13.