Economic Reporter :
Bangladesh Bank Governor Dr. Atiur Rahman on Thursday has underscored the need for increasing the co-operation among the central banks in the SAARC region with a view to ensuring modern and hassle free payment system.
“We believe this co-operation between the SAARC central banks regarding Payment and Settlement Systems, will lead us to the spirit- ‘Deeper Integration for Peace and Prosperity’- of 18th SAARC Summit, 2014. We must adopt a realistic, pragmatic and step by step approach towards solution of issues which will open up new channels of cooperation”, said the governor while addressing a workshop on ‘Cyber security on Payment Systems’ as part of the 17th SAARC Payments Council Meeting in Sea Pearl Beach Resort, Inani, Cox’s Bazar on Thursday.
Bangladesh Bank organized the two-day long programme in order to establish modern and hassle free payment system among the SAARC region. Dr Atiur Rahman inaugurated the 17th SAARC Payments Council (SPC) Meeting. The meeting continued for two days followed by a workshop on Cyber security on Payment Systems.
Deputy Governors and Senior Officials of SAARC Central Banks attended the SPC meeting. This is the third time that Bangladesh Bank hosted the SPC Meeting. In the meeting the idea of cooperation among the member countries, especially in the area of legal and regulatory reforms, oversight policy and framework and infrastructural development of payment systems in SAARC Countries were discussed in details.
SPC is a regional payment council formed with the Central Banks of SAARC countries consisting of Afghanistan, Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan and Sri Lanka. The Secretariat of SPC is currently located at State Bank of Pakistan-the Central Bank of Pakistan.
Addressing the welcome speech, Deputy Governor of Bangladesh Bank Nazneen Sultanash Bank highlighted the opportunities and threats of innovative technologies in payment systems and how SPC countries can help each other to convert this threat to opportunity.
Harun Rasid Khan, Deputy Governor, Reserve Bank of India emphasized on the combined effort which may lead the region to an era of uniformity in trade payments which in turn open the opportunity of uniform payment systems for inter border transactions.
Saeed Ahmad, Deputy Governor, State Bank of Pakistan and Chairman, SPC in his closing remarks hoped the efforts of today to modernize the payment systems of the region is opening the door of a brighter and prosperous tomorrow.
A seminar was organized after SPC meeting on Cyber security on Payment Systems. Peter Andrew Gallagher from Reserve Bank of Australia and Bharat Panchal from National Payment Council of India conducted the seminar sessions.
Gallagher talked about crypto currencies and securities where as Panchal enlighten the participants about combating cyber frauds.
Bangladesh Bank Governor Dr. Atiur Rahman on Thursday has underscored the need for increasing the co-operation among the central banks in the SAARC region with a view to ensuring modern and hassle free payment system.
“We believe this co-operation between the SAARC central banks regarding Payment and Settlement Systems, will lead us to the spirit- ‘Deeper Integration for Peace and Prosperity’- of 18th SAARC Summit, 2014. We must adopt a realistic, pragmatic and step by step approach towards solution of issues which will open up new channels of cooperation”, said the governor while addressing a workshop on ‘Cyber security on Payment Systems’ as part of the 17th SAARC Payments Council Meeting in Sea Pearl Beach Resort, Inani, Cox’s Bazar on Thursday.
Bangladesh Bank organized the two-day long programme in order to establish modern and hassle free payment system among the SAARC region. Dr Atiur Rahman inaugurated the 17th SAARC Payments Council (SPC) Meeting. The meeting continued for two days followed by a workshop on Cyber security on Payment Systems.
Deputy Governors and Senior Officials of SAARC Central Banks attended the SPC meeting. This is the third time that Bangladesh Bank hosted the SPC Meeting. In the meeting the idea of cooperation among the member countries, especially in the area of legal and regulatory reforms, oversight policy and framework and infrastructural development of payment systems in SAARC Countries were discussed in details.
SPC is a regional payment council formed with the Central Banks of SAARC countries consisting of Afghanistan, Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan and Sri Lanka. The Secretariat of SPC is currently located at State Bank of Pakistan-the Central Bank of Pakistan.
Addressing the welcome speech, Deputy Governor of Bangladesh Bank Nazneen Sultanash Bank highlighted the opportunities and threats of innovative technologies in payment systems and how SPC countries can help each other to convert this threat to opportunity.
Harun Rasid Khan, Deputy Governor, Reserve Bank of India emphasized on the combined effort which may lead the region to an era of uniformity in trade payments which in turn open the opportunity of uniform payment systems for inter border transactions.
Saeed Ahmad, Deputy Governor, State Bank of Pakistan and Chairman, SPC in his closing remarks hoped the efforts of today to modernize the payment systems of the region is opening the door of a brighter and prosperous tomorrow.
A seminar was organized after SPC meeting on Cyber security on Payment Systems. Peter Andrew Gallagher from Reserve Bank of Australia and Bharat Panchal from National Payment Council of India conducted the seminar sessions.
Gallagher talked about crypto currencies and securities where as Panchal enlighten the participants about combating cyber frauds.
