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A technical error in the server at Bangladesh Bank is causing issues with inter-bank transactions, resulting in the cancellation of all clearing checks set for Monday.
On October 1, Husne Ara Shikha, Executive Director and Spokesperson of Bangladesh Bank, confirmed this information.
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There was a check clearing issue on Monday due to a technical error with Bangladesh Bank’s server, which caused delays for checks that arrived yesterday. The central bank’s technical team is addressing the problem and it will be resolved soon.
A Bangladesh Bank official said there was a server issue on Monday night, which resulted in the cancellation of all pending clearing checks.
The error was detected on the server at 9 PM on Monday. Attempts to fix it continued through the night, but by 2 AM with no resolution, all checks settled on Monday were canceled.
Md. Sharafat Ullah Khan, Director, Payment system department of Bangladesh Bank said, Actually the technical glitch is in core banking system (CBS). Our IT team is working to resolve the issue. We are following up the issue with utmost care. In response to a query, he said, whenever our work is finished, it will work, he didn’t mention any specific time.
Bangladesh Bank operates three platforms: Real Time Gross Settlement (RTGS), Automated Check Clearing House (BACH or BATCH), and Bangladesh Electronic Funds Transfer Network (BEFTN).
Payments and automatic check settlements occur between branches or to customers of different banks. High-value checks and regular checks (under 5 lakh ) are processed through BACH.
