Inter-bank cheque clearance and electronic fund transfer system of Bangladesh Bank was reactivated Sunday after five days of suspension.
The system was suspended on Tuesday last due to a technical fault in the optical fiber of Bangladesh Telecommunications Company Limited (BTCL).
“The Inter-bank cheque settlement and electronic fund transfer system resumed operation from the morning,” a BB official told The News Times.
However, he added, there was huge backlog of cheques, which may take time to clear.
Official sources said one of the two servers, one located at the central bank and the other at the Bangladesh Bank Training Academy in Mirpur, became inoperative leading to disruption in electronic fund transfer and inter-bank cheque clearance.
They said the central bank authorities ordered to stop operation of the system soon after the banks and financial institutions were asked to remain shut during the full-scale lockdown. But after the change in decision on keeping bank branches open, the clearing house was asked to resume the system. But the system then started experiencing problems, the sources at the BB said.
