The Structure of Financial System of Bangladesh -

2408 Words Oct 17th, 2012 10 Pages
The Structure of Financial System of Bangladesh
Introduction:
Financial system is a system which tones up the savings-investment process of a country.Financial system plays a significant role in the economic development of a country. Theimportance of an efficient financial sector lies in the fact that, it ensures domestic resourcesmobilization, generation of savings, and investments in productive sectors. In fact, it is thesystem by which a country’s most profitable and efficient projects are systematically andcontinuously directed to the most productive sources of future growth. The financial systemnot only transfers funds from savers to investors, it also selects projects which will yield thehighest returns, accumulates sufficient
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• Online Export Monitoring System is used for monitoring export of Bangladesh. Through this service, Banks and AD Branches of Banks issue & reports export report.
• Bangladesh Automated Clearing House (BACH) started to work by replacing the ancient manual clearing system which allows the inter-bank cheques and similar type instruments to be to settled in instant manner.
• Electronic Fund Transfer (EFT) has been introduced which facilitates the banks to make bulk payments instantly and using least paper and manpower.
• The initiation of Mobile Banking has been one of the most noteworthy advancement in banking. Through this system, franchises of banks through mobile operators can provide banking service to even the remotest corner of the country.
• Almost every commercial bank is now using their own core banking solution which has made banking very faster and efficient. Usage of plastic money has much more increased in daily life transactions. Full or partial online banking is now being practiced by almost every bank.
Inauguration of internet trading in both of the bourses (DSE & CSE) in the country is the most significant advancement for capital market in last several years. Micro Finance Institutions submit their reports to the regulator through the Online Report Submission Tools for MFIs. Institutional Development:
Through the Central Bank Strengthening Project, there have been a
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