A modern national payment system is the backbone for a country’s monetary and financial infrastructure. The modern payment system also plays a vital role in the country’s current and future economic development. In this regard Bangladesh Bank has started automated payment system called BACH (Bangladesh Automated Clearing System) which covers the Bangladesh Automated Cheque Processing System (BACPS) and Bangladesh Electronic Fund Transfer Network (BEFTN).
Accordingly, Bangladesh Bank has taken steps to standardize the security and other features like MICR (Magnetic Ink Character Recognition), personalization and size of cheques for using images in the new system in clearing instead of presenting physical cheques.
From the very first day Dhaka Bank Limited has been participating in the new system and presently we are processing cheques from nine clusters of the Branches in Dhaka, Chittagong, Sylhet and Narayangonj districts along with sixteen individual Branches for outward clearing. At the same time the Bank receives and honours inward cheques centrally under Central Clearing Unit (CCU) at Head Office.
Dhaka Bank is also handling Electronic Fund Transfer against the inward remittance received from abroad for the Customers of our Bank and other Banks through BACH. At the same time Dhaka Bank is also initiating outward fund transfer under the guideline of BEFTN.
We furnish below the numbers of transactions processing through BACPS and BEFTN:
Dhaka Bank has truly cherished and brought into focus the heritage and history of Dhaka and Bangladesh from Mughal outpost to modern metropolis. Most of its presentation, publications, brand initiatives, delivery channels, calendars and financial manifestations bear Bank’s commitment to this attachment.