Standard Bank signs deal with Bangladesh Bank for accepting government invoices online

Standard Bank Limited has signed an agreement with Bangladesh Bank to deposit treasury invoices on behalf of Bangladesh Government through automatic invoicing system, states a press release. 

On the occasion, General Manager Md. Forkan Hossain on behalf of Bangladesh Bank and Managing Director and CEO Khondoker Rashed Maqsood on behalf of Standard Bank signed the agreement at a function organized at Bangladesh Bank on 20 September 2021.

Ahmed Jamal, Deputy Governor, Bangladesh Bank was present as the Chief Guest at the signing ceremony presided over by Nurun Nahar, Executive Director, Bangladesh Bank. Standard Bank's CITO Sufi Tofail Ahmed, CFO and Acting Company Secretary Md. Ali Reza FCMA, CIPA and other senior officials of both the organizations were also present on the occasion. Prior to this formality, with the approval of Bangladesh Bank, the online government invoicing process was inaugurated at Standard Bank on 14 July 2021.

It is to be noted that, the automated invoicing system is one of the major endeavors of receiving government money in Scheduled Banks through government software with the aim of bringing government services to the doorsteps of the people, through which money will be deposited in the government treasury in a timely manner.