BB reduces transaction timings of BEFTN, RTGS for Ramadan
According to the circular, under the revised schedule, BEFTN transactions will be conducted from 11:30am to 1:30pm.
The Bangladesh Bank has revised the transaction schedule for Bangladesh Electronic Funds Transfer Network (BEFTN) and Real-Time Gross Settlement (RTGS) in banks due to the month of Ramadan.
The central bank issued a circular in this regard today (16 February) and sent it to all banks.
According to the circular, under the revised schedule, BEFTN transactions will be conducted from 11:30am to 1:30pm. Previously, transactions were carried out from 11:30am to 3pm. RTGS transactions will now take place from 9am to 3pm, whereas the regular schedule was from 10am to 4:30pm.
Keep updated, follow The Business Standard's Google news channel
A BEFTN transaction is an electronic transfer of money from one bank account to another within Bangladesh using the Bangladesh Funds Transfer Network system. It is mainly used for salary payments, business payments, vendor payments, loan instalments, personal money transfers and government payments.
RTGS is an electronic funds transfer system where money is transferred instantly (in real time) and individually (on a gross basis) from one bank to another.
