Regulatory Alerts2010-01-17
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PSD Circular No. 01: Bangladesh Automated Cheque Processing System (BACPS) Operating Rules and Procedures
The document publishes the approved BACPS Operating Rules and Procedures for the Bangladesh Automated Cheque Processing System. All Scheduled banks participating in the Bangladesh Automated Clearing House (BACH) are required to download these rules and execute the BACPS Participant Agreement and Indemnity. These signed agreements must be submitted to the Department of Currency Management and Payment systems, Bangladesh Bank, by 28 February, 2010. The rules define the roles, responsibilities, and legal framework for the electronic truncation, exchange, and settlement of cheque images.
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