Bangladesh Bank launches software to speed up pension, allowances distribution

To ensure better distribution of pension and other allowances under the government's social safety net, the Bangladesh Bank on Sunday launched a software named "Government e-Transaction Processing Hub (GeTPH)".
 
According to the central bank officials, the new software will work as a system of electronic transactions for Government to Person (G2P).
 
Addressing the inauguration ceremony, Bangladesh Bank Governor Fazle Kabir said through automation the GeTPH software will play a vital role in strengthening the government expenditure management.
 
The central bank's IT team has developed the software as per the government direction, he stated.  
 
After a couple of months' piloting, the software now started its official journey to make the G2P transactions -- like allowances for freedom fighters, widows, adults and persons with disability, pension, bills of various autonomous organisations, profit and capital of national savings certificates, student scholarships and stipends, etc -- smoother.
 
Terming the Bangladesh Bank as the payment gateway of the government, Abdur Rauf Talukder, Senior Secretary, Ministry of Finance, said earlier the distribution of government allowances to person took three-six months. 
 
"With the new software of the Bangladesh Bank, the service will now be faster. This will also save time as well as minimise the government expenses," he adds.