| Currency management and Payment Systems is one of the core central banking functions. In compliance with the Bangladesh Bank Order, 1972 the Department of Currency Management and Payment System was organized to procure currency notes and coins and to arrange steady and prompt supply of the same as per needs of the country. |
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| 01. Currency Management Division's functions: |
| a. | To procure currency notes and coins of different denominations. |
| b. | To ensure steady and smooth supply of bank notes and coins. |
| c. | To oversee and review policies relating to Cash Department from time to time. |
| d. | To issue guidelines in respect of disposal of soiled and non-issue notes. |
| e. | To issue policy guidelines in respect of re-issue notes. |
| f. | To issue policy guidelines in order to withdraw and payment of exchange value of torn, defective and soiled notes. |
| g. | To provide logistic support for smooth functioning of Cash Department. |
| h. | To ensure standard policy measures in order to combat counterfeiting of currency notes and to create awareness about forged notes. |
| i. | To ensure safe arrangements for preserving and movement of government treasury |
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| 02. Payment System's Division's functions: |
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Payment Systems Division, DCMPS is working for building up an efficient, secured and reliable national Payment Systems in Bangladesh being within the scope of Remittance and Payments Partnership (RPP) Project. RPP, a DFID grant funded project, was undertaken in October 2006 DFID for modernizing the existing Payment Systems. The goal of this project is to build safe, faster and efficient remittances, to establish Automated Clearing House consistent with international standards and a sustainable payment system in Bangladesh. Payment Systems Division (PSD) is entrusted with the responsibilities of achieving project objectives with the help of international payment consultants. Bangladesh Bank has already completed installation & testing of Data Center (DC) of Bangladesh Automated Clearing House (BACH) at Motijheel bank premise & its Disaster Recovery (DR) Center at Mirpur and established connectivity between banks & the DC/DR Center. It is expected that BACH will go live in Dhaka City within a short span of time. Bangladesh Bank will be able to establish an efficient payment and settlement system consistent with international standards. PSD's current activities are as follows :
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| a. | Oversee the existing clearing house in Dhaka and other 7 branch offices of Bangladesh Bank |
| b. | Formulatting National Payment and Settelment Systems Strategy (NPSS) for modernizing country's payment and settlement system. |
| c. | Preparing required legal and regulatory framework for NPSS. |
| d. | Communicating and assisting the commercial banks and other participants for their readiness. |
| e. | Standardization of payment instruments and allocation of newly formatted routing numbers to the bank-branches and other participants. |
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