BB allows settlement of interbank cross cheques during closure

Staff Correspondent

31 March, 2020 12:00 AM printer

Bangladesh Bank (BB) has allowed clients to settle interbank cross cheques to enable the government and businesses to provide emergency support to people during the ongoing countrywide closure.

BB earlier said that the Bangladesh Automated Clearing House, a platform that is used to clear interbank cheques, would be closed during the 10-day general holidays announced by the government.

But the central bank yesterday revised its decision and instructed banks to take required measures to settle the interbank cross cheque, a BB official said.

The Open Market Sale (OMS) activities and the social safety net programmes will be able to operate properly by the central bank’s decision to allow settlement interbank cross Cheques.

The initiative will also help businesses in buying and selling essential commodities, emergency medicines and provide other services, which will ultimately help the supply of commodities from one place to another in the country, the BB official said.