Staff Correspondent

Speakers at a workshop on Saturday said that the government has introduced the Account Verification System (AVS) through Bangladesh Bank 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, senior officials from Bangladesh Bank and the Finance Division said.

The workshop, held at the Bangladesh Bank Training Academy in Mirpur, revealed that AVS was launched on a trial basis on 26 January this year 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.

It was further said that AVS will be implemented in all accounting offices across the country by June 2025.

The workshop focused on integrating the iBAS++ system with Bangladesh Bank’s systems, piloting AVS, and formulating an implementation roadmap for the next phases.

It was organized by the iBAS++ scheme of Strengthening Public Financial Management Program to Enable Service Delivery (SPFMS) under the Finance Division.

Dr Md Habibur Rahman, Deputy Governor of Bangladesh Bank, attended the event as the chief guest, while Bilquis Jahan Rimi, Additional Secretary (Budget-1) and National Programme Director of SPFMS, presided over the session.

Special guests included Md Zakir Hossain Chowdhury, Deputy Governor of Bangladesh Bank, and Md Hanif Mia, Executive Director of Bangladesh Bank Training Academy.

A presentation on integrating iBAS++ with Bangladesh Bank’s systems and the implementation roadmap for AVS was delivered by Debdulal Roy, Executive Director of the ICT Department at Bangladesh Bank, while Abul Basar Muhammad Amir Uddin, Joint Secretary of Finance Division, provided presentation on the iBAS++ system.

90 top officials from various government and private banks participated in the event and shared their opinions on the initiative.

In his speech, Dr Md Habibur Rahman said, “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 emphasised 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 Tk500-600 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 Bangladesh Bank.

It was also revealed that the government plans to fully automate EFT return operations in the future. Additionally, 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 programs via mobile banking.