Mercantile Bank Limited inaugurated Automated Challan System (ACS), an initiative introduced byfinance ministry and Bangladesh Bank to help banks operate their payment operations smoothly.
Ahmed Jamal, deputy governor of Bangladesh Bank and Md Quamrul Islam Chowdhury, managing director of Mercantile Bank Limited formally inaugurated the service at the bank's headquarters on Wednesday last, said a media statement.
The service will allow clients depositing Vat, tax, government fees and other payments in a faster and safer way. It will also reduce the possibility of fraud.
Under ACS, treasury invoice can be deposited through cash or cheque at any branches of the bank or online system.
Mati Ul Hasan, additional managing director of Mercantile bank; Adil Raihan, Shamim Ahmed, Hasne Alam and Md Mahmood Alam Chowdhury, its deputy managing directors and other senior officials were present on the occasion.