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Bangladesh Bank has revised the transaction hours for the Real Time Gross Settlement (RTGS) system, the central bank’s instant and secure interbank payment mechanism.
The Payment Systems Department of Bangladesh Bank issued a circular on Sunday announcing the changes, which will take effect from October 5. Under the new schedule, RTGS services will remain available on all working days, except weekends and government holidays, UNB reports.
According to the revised timing, customer transactions will be conducted from 10 am to 5 pm, while foreign currency transactions will be available from 10 am to 4 pm.
Interbank fund transfers have been set from 10 am to 5:15 pm, with foreign currency interbank transfers available between 10 am to 4:30 pm. The circular also noted that from 4 pm to 5 pm, customer transactions can only be carried out through online platforms, including internet banking, mobile apps, and corporate solutions.
The central bank said the new schedule has been introduced to enhance customer service and ensure faster and more streamlined banking operations. All banks and financial institutions have been instructed to make necessary preparations to comply with the updated timings.
RTGS is a payment system that enables high-value transactions to be completed instantly, securely, and accurately. Both public and private sector entities rely on the service for their day-to-day critical financial transactions.