Bangladesh Bank Assures Support for Ansar-VDP Bank Modernisation

Bangladesh Bank Governor Md Mostaqur Rahman, FCMA, has assured necessary support for the swift approval of the pre-financing facility for the Sanjiban Project, recruitment of personnel and implementation of a core banking system at Ansar-VDP Unnayan Bank.

The assurance came during a meeting between the governor and a delegation from Ansar-VDP Unnayan Bank on Tuesday (August 18) to discuss the bank’s modernisation, digital transformation and expansion of modern banking services for members of Bangladesh Ansar and Village Defence Party, according to a press release.

Bangladesh Ansar and Village Defence Party Director General and Ansar-VDP Unnayan Bank Chairman Major General Abdul Motaleb Sazzad Mahmud, SGP, BAM, NDU, AFWC, PSC, attended the meeting.

The meeting discussed the approval of a pre-financing facility for the long-awaited Sanjiban Project. The governor assured the delegation that necessary procedures would be completed to ensure swift approval. The project is expected to create new opportunities for financial inclusion and economic advancement among force members.

The meeting also focused on implementing a core banking system (CBS) and recruiting personnel required for the bank’s modernisation. The governor assured that steps would be taken to complete recruitment for 205 posts through Bangladesh Bank’s Bankers’ Selection Committee within the next three months.

The recruitment is expected to strengthen the bank’s technological and institutional capabilities and accelerate the implementation of CBS and other modern banking operations.

The meeting also discussed connecting Ansar-VDP Unnayan Bank with the Bangladesh Automated Clearing House (BACH), National Payment Switch Bangladesh (NPSB), Bangladesh Electronic Funds Transfer Network (BEFTN), electronic funds transfer services and other national payment and clearing systems.

Once implemented, the initiatives will enable Ansar and VDP members to receive salaries and allowances, transfer funds between banks, make digital payments and access electronic fund transfer services more quickly, safely and efficiently.

Ansar-VDP Unnayan Bank Managing Director Mir Mofazzal Hossain also attended the meeting. Bangladesh Bank Deputy Governor Dr Kabir Ahmed and Deputy Governor Md Sarwar Hossain were present on behalf of the central bank.