Economic Reporter :
Bangladesh Bank (BB) Governor Dr. Atiur Rahman urged the SAARC member central banks to design a process to appropriately contextualize the Sustainable Development Goals (SDGs) at the regional level in the payment systems arena.
“I believe adoption of a realistic, pragmatic, and step-by-step approach towards solution of issues will open up new avenues of cooperation among the SAARC nations,” BB Governor said while inaugurating the 17th SAARC Payment Council (SPC) meeting at Royal Tulip Sea Pearl Beach Resort in Cox’s Bazar on Thursday.
At least 20 high ups from Afghanistan, Bangladesh, Bhutan, India, Nepal, Pakistan and Sri Lankan central banks are taking part of the two-day long SPC Meeting.
The central bank chief said, the cooperation among the SAARC central banks regarding Payment and Settlement Systems, will lead us to the very much spirit of the 18th SAARC Summit 2014 – ‘Deeper Integration for Peace and Prosperity’.
“Effective communication and exchange of information in the region through SPC has helped most of the countries travel the first mile of payment systems with the establishment of Automated Clearing House, Electronic Fund Transfer Network, Interoperable ATM & POS, and the recently launched Real Time Gross Settlement (RTGS),” he explained.
Dr. Rahman also said an interoperable system will be established to manage cross-border payment using latest technology.
“We need to sort out the right instrument/payment platform for more effective communication with the tech savvy netizen generation,” the BB Governor noted.
Among others, Deputy Governor of Reserve Bank of India (RBI) Harun Rashid Khan, Deputy Governor of BB Nazneen Sultana, SPC Chairman and Deputy Governor of State Bank of Pakistan (SBP) Saeed Ahmed and Deputy Governor of Nepal Rastra Bank Gopal Prasad Kaphle also spoke on the occasion.
SAARC Payments initiative is a regional forum created by SAARC FINANCE Group at the conference on ‘Towards a Regional Payment Group’ held at Central Bank of Sri Lanka in July, 2007 aiming to develop an understanding to promote cooperation among member countries to move forward in reforming their national payment and settlement systems and to facilitate trade and investment flows in the region.
Bangladesh Bank (BB) Governor Dr. Atiur Rahman urged the SAARC member central banks to design a process to appropriately contextualize the Sustainable Development Goals (SDGs) at the regional level in the payment systems arena.
“I believe adoption of a realistic, pragmatic, and step-by-step approach towards solution of issues will open up new avenues of cooperation among the SAARC nations,” BB Governor said while inaugurating the 17th SAARC Payment Council (SPC) meeting at Royal Tulip Sea Pearl Beach Resort in Cox’s Bazar on Thursday.
At least 20 high ups from Afghanistan, Bangladesh, Bhutan, India, Nepal, Pakistan and Sri Lankan central banks are taking part of the two-day long SPC Meeting.
The central bank chief said, the cooperation among the SAARC central banks regarding Payment and Settlement Systems, will lead us to the very much spirit of the 18th SAARC Summit 2014 – ‘Deeper Integration for Peace and Prosperity’.
“Effective communication and exchange of information in the region through SPC has helped most of the countries travel the first mile of payment systems with the establishment of Automated Clearing House, Electronic Fund Transfer Network, Interoperable ATM & POS, and the recently launched Real Time Gross Settlement (RTGS),” he explained.
Dr. Rahman also said an interoperable system will be established to manage cross-border payment using latest technology.
“We need to sort out the right instrument/payment platform for more effective communication with the tech savvy netizen generation,” the BB Governor noted.
Among others, Deputy Governor of Reserve Bank of India (RBI) Harun Rashid Khan, Deputy Governor of BB Nazneen Sultana, SPC Chairman and Deputy Governor of State Bank of Pakistan (SBP) Saeed Ahmed and Deputy Governor of Nepal Rastra Bank Gopal Prasad Kaphle also spoke on the occasion.
SAARC Payments initiative is a regional forum created by SAARC FINANCE Group at the conference on ‘Towards a Regional Payment Group’ held at Central Bank of Sri Lanka in July, 2007 aiming to develop an understanding to promote cooperation among member countries to move forward in reforming their national payment and settlement systems and to facilitate trade and investment flows in the region.
