Regulatory Alerts2019-10-21
Added · Updated
PSD Circular Letter No. 03: Regarding implementation of the Upgraded Version of Bangladesh Automated Clearing House
The document mandates the implementation of the upgraded Bangladesh Automated Clearing House (BACH) system, with official operations commencing on October 24, 2019. It establishes specific deadlines for the cessation of transactions on the old BACH system, including the final submission of RTGS messages by October 22, 2019, and the final submission of cheques by October 23, 2019. Scheduled banks are required to maintain staff at their cheque and EFT processing units on October 25 and 26, 2019, and cheque representation is suspended from October 24 to 29, 2019. Additionally, the new system introduces two daily RTGS sessions in local currency with separate file submissions for debit and credit transactions.
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