Photo: Collected

 
DHAKA, Feb 22, 2025 (BSS) - Senior officials from Bangladesh Bank (BB) and 
the Finance Division have announced that the government will implement the 
Account Verification System (AVS) nationwide by June to ensure the accuracy 
of customer accounts as part of its initiative to make government 
transactions cashless.
 
The system aims to enhance transparency and accountability in public 
expenditure while effectively preventing fraud and financial waste, according 
to participants in a recent workshop.
 
The workshop revealed that AVS was launched on a trial basis on January 26, 
2025, in four Chief Accounts and Finance Offices (CAFOs)-- the Local 
Government Division, Health Services Division, Public Security Division, and 
the Ministry of Primary and Mass Education, said a press release here today.
 
It was further stated that AVS will be implemented in all accounting offices 
across the country by June 2025.
 
The workshop, held this morning at the Bangladesh Bank Training Academy in 
Mirpur, focused on integrating the iBAS++ system with Bangladesh Bank's 
systems, piloting AVS, and formulating an implementation roadmap for the next 
phases.
 
It was organised by the iBAS++ scheme of Strengthening Public Financial 
Management Programme to Enable Service Delivery (SPFMS) under the Finance 
Division.
 
Deputy Governor of BB Dr. Md Habibur Rahman attended the event as the chief 
guest with Additional Secretary (Budget-1) and National Programme Director of 
SPFMS Bilquis Jahan Rimi in the chair. 

On the occasion, Deputy Governor of BB Md. Zakir Hossain Chowdhury and 
Executive Director of Bangladesh Bank Training Academy Md. Hanif Mia were 
present as special guests.
 
A presentation on integrating iBAS++ with Bangladesh Bank's systems and the 
implementation roadmap for AVS was delivered by Executive Director of the BB 
ICT Department Debdulal Roy while Abul Basar Muhammad Amir Uddin, joint 
secretary of Finance Division, provided his presentation on the iBAS++ 
system. 
 
The event was participated by 90 top officials from various government and 
private banks, who shared their opinions on the initiative.
 
In his speech, Dr. Md. Habibur Rahman stated that the introduction of AVS 
will make government transactions more seamless and accurate. 
 
It will ensure that public funds reach the intended recipients, reducing 
customer inconvenience. 
 
Additionally, verifying government bank account details will enhance 
financial security and prevent irregularities.
 
Bilquis Jahan Rimi emphasized that the primary objectives of AVS 
implementation are to transition all government payments to a cashless 
system, ensure transparency and accountability in expenditure management, 
prevent fraud and financial waste, and reduce customer hardship. 
 
She highlighted that AVS will verify bank account details of government 
institutions and save Taka 500-600 crore annually by eliminating the need for 
check printing.
 
According to the presentation, the verification process will be conducted 
through iBAS++, ensuring real-time account validation through automated data 
exchange between banks and Bangladesh Bank.
 
Drawing and Disbursement Officers (DDOs) will complete bill entry, approval, 
EFT (Electronic Fund Transfer) generation and subsequent actions at the 
Bangladesh Bank.
 
It was also revealed that the government plans to fully automate EFT return 
operations in the future. Moreover, a deadline will be set for opening new 
bank accounts at the end of each fiscal year to prevent irregularities and 
complexities.
 
Measures will also be taken to ensure real-time disbursement of funds to 
beneficiaries of social safety net programmes via mobile banking.