Citibank, N.A., Bangladesh recently in a session introduced the concept of RTGS (Real Time Gross Settlement) - the fastest mode of electronic payment for corporate to the clients.
At this session, Citi also launched new mobile and tablet functionalities for their award winning internet banking platform - CitiDirect BE.
The session, titled "Bangladesh: Macroeconomic Update and Roadmap to RTGS" reflects Citi's commitment to closely partner clients to drive long term, sustainable growth through innovative thinking, strategic decision making and best-in-class banking models.
Mr. Dasgupta Asim Kumar, Executive Director of Bangladesh Bank was the Chief Guest at the event, which was attended by Citi's top tier corporate clients, according to a statement.
The session also included a brief Macro Economic update, followed by a "live" demonstration where clients had the opportunity to log in to CitiDirect BE using multiple mobile and tablet devices to get a firsthand experience of the new features. The new functionalities for CitiDirect BE benefits clients who can now manage their treasury activities from their smartphones and tablet devices, 24 hours a day at anywhere and anytime. This provides improved ease of access, convenience and speed, as well as maximizes transaction and payment efficiencies.
Mr. Asim Kumar encouraged participants from various multinational companies (MNCs) and local corporates to extensively use electronic mode of payments (Bangladesh Electronic Fund Transfer Network - BEFTN) to reduce time lag and risk of fraud. He also said that, "Bangladesh Bank is targeting to launch RTGS by end of 2015 after which the payment system of Bangladesh will be amongst the best in the region."
Mr. Ekhlas Uddin, Deputy Director, Bangladesh Bank, also participated in a highly interactive dialogue on RTGS along with Citi senior bankers and clients, during which he highlighted Citi as one of the top initiators of Electronic Fund Transfer (EFT) credit & direct debit transactions and appreciated the role of Citi's clients in achieving such success in EFT arena.
Mr. Sajedul Islam, Head of Markets and Acting Citi Country Officer for Bangladesh, said, that "Within Asia, Bangladesh has one of the most stable GDP growth rates and RTGS will help to fuel the economic growth further."
Mr. Md. Moinul Huq, Head of Treasury and Trade Solutions, Citi Bangladesh inaugurated the seminar and Mr. Shams Zaman, Head of Corporate and Investment Banking, Citi Bangladesh offered vote of thanks.
Source: The Financial Express
