Due to technical error in the server of Bangladesh Bank, there is a problem in the settlement of inter-bank transactions. Due to this, the settlement of all clearing checks pending on Monday has been cancelled.
Bangladesh Bank Executive Director and Spokesperson Hosne Ara Shikha confirmed this information to Dhaka Post on Tuesday (October 1).
He said that there was a problem with check clearing on Monday due to a technical error in Bangladesh Bank's server. Hence, the checks that arrived yesterday were not cleared. The central bank's technical team is working to resolve the server issue. The problem will be solved very soon.
An official of Bangladesh Bank said that there was a problem on the server of Bangladesh Bank on Monday night. This cancels the settlement of all pending clearing checks.
He said that the error was detected on the server at 9 pm on Monday. The solution is tried at night. But as there was no resolution till 2 am, the settlement of all checks settled on Monday was cancelled.
Bangladesh Bank's Real Time Gross Settlement (RTGS), Automated Check Clearing House (BACH or BATCH) and Bangladesh Electronic Funds Transfer Network (BEFTN) operate three platforms.
Through these services, payments and automatic check settlement are made from one branch to another branch or to the customer of another bank. High value checks (above 5 lakh rupees) and regular value checks (below 5 lakh rupees) are settled through BACH.
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