AB Bank recently introduced Automated Challan System (ACS), an initiative of the Ministry of Finance and Bangladesh Bank, as the first private commercial bank in the country.
Deputy Governor of Bangladesh Bank Ahmed Jamal and President and Managing Director of AB Bank Tarique Afzal formally inaugurated the launching event, reads a press release.
The service will allow to deposit value added tax (Vat), tax, government fees and other payments in a fast and safe way. The system will also reduce the possibility of fraud.
Under ACS, treasury invoices can be deposited through cash or cheque at any branches of the bank or online.
Deputy Governor Jamal lauded the managing director of AB Bank for his leadership in this initiative.
Dr Mohammad Hossain, deputy secretary, Ministry of Finance and senior management of the bank were also present during the inauguration.