The New Nation - Internet Edition

BSS, Dhaka

Bangladesh Bank (BB) has asked all schedule banks to expand their online banking to facilitate the payment of all kinds of bills and fees of government, semi- government and autonomous bodies.

The central bank issued letters to this end to the heads of the scheduled banks recently.

The decision was taken at a meeting last September with Secretary of the Chief Adviser's Office (CAO) Kazi M Aminul Islam in the chair, according to BB sources.

The scheduled banks have been asked to introduce or expand online banking facilities soon for the payment of all kinds of bills or fees including utility bills on the basis of agreements with the institutions concerned.

The step is aimed to improve the standard of customer services of the banks and infuse dynamism into their activities along with modernising the banking system.

The banks have also been advised to follow all applicable laws and provisions, banking rules and regulations including the Guidelines on Information and Communication Technology for Scheduled Banks and Financial Institutions formulated by the Bangladesh Bank, the Information and Communication Technology Act and the Anti-Money Laundering Act for introducing or expanding such facilities in online banking.

Besides, all banks have been instructed to preserve transaction related information for placing before the inspection teams of Bangladesh Bank, the sources said.