Payment Systems has been considered to be an important element of the financial stability and is evolving as a core central banking function around the world. A well functioning payment system promotes stability in the financial system by reducing risks, lowering transaction costs, enhancing financial markets liquidity and by helping to use financial resources efficiently.
According to the Section 7A(e) of the Bangladesh Bank Order, 1972; one of the main functions of the Bangladesh Bank is - "to promote, regulate and ensure a secure and efficient payment system, including the issue of bank notes."
In fulfilling this mandate and considering the importance of having a state-of-the-art payment and settlement system for ensuring financial stability of Bangladesh, Payment Systems Division (PSD) of Department of Currency Management and Payment Systems (DCMPS), Bangladesh Bank (BB) has been working hard to align the traditional payment systems with international standards.
Follow the links below to have a glimpse over the prevailing payment systems and BB’s continuing endeavor for further betterment of country’s payment and settlement systems –