DHAKA, Feb 22, 2025 (BSS) – The government is set to implement the Account Verification System (AVS) across Bangladesh by June 2025, aiming to eliminate fraud and financial irregularities while ensuring accuracy in government transactions, officials from Bangladesh Bank (BB) and the Finance Division announced.
The initiative, part of the broader effort to transition to a cashless government transaction system, is designed to enhance transparency and accountability in public expenditure. Officials highlighted its role in preventing financial waste during a recent workshop.
Trial Phase and Nationwide Implementation
The AVS system was initially launched on January 26, 2025, on a trial basis in four Chief Accounts and Finance Offices (CAFOs), covering:
- Local Government Division
- Health Services Division
- Public Security Division
- Ministry of Primary and Mass Education
According to officials, full-scale implementation will cover all government accounting offices by June 2025.
Workshop on AVS and iBAS++ Integration
A high-level workshop was held at the Bangladesh Bank Training Academy in Mirpur, focusing on:
- Integration of AVS with iBAS++, the government’s financial management system
- Implementation roadmap for AVS
- Future automation of government transactions
The event was organized under the Strengthening Public Financial Management Programme to Enable Service Delivery (SPFMS), a project of the Finance Division.
Key attendees included:
- Dr. Md. Habibur Rahman, Deputy Governor of Bangladesh Bank (Chief Guest)
- Bilquis Jahan Rimi, Additional Secretary (Budget-1) & National Programme Director of SPFMS (Chair)
- Md. Zakir Hossain Chowdhury, Deputy Governor of Bangladesh Bank
- Md. Hanif Mia, Executive Director, Bangladesh Bank Training Academy
Additionally, 90 senior officials from government and private banks participated, providing insights and recommendations on AVS implementation.
Key Benefits of AVS Implementation
Dr. Md. Habibur Rahman emphasized that AVS would streamline government transactions, ensuring that public funds reach the correct recipients without errors or delays. By verifying account details, the system will prevent financial fraud and enhance security.
Bilquis Jahan Rimi further outlined the primary goals of AVS:
✔ Transition all government payments to a fully cashless system
✔ Ensure transparency and accountability in expenditure
✔ Reduce financial fraud and mismanagement
✔ Minimize customer hardships in banking transactions
She also noted that AVS will help the government save BDT 500-600 crore annually by eliminating manual check printing.
How AVS Will Work
According to a presentation by Debdulal Roy, Executive Director of BB’s ICT Department, the system will function through iBAS++, ensuring real-time account verification via an automated exchange of banking data.
Key processes include:
- Drawing and Disbursement Officers (DDOs) will handle bill entry, approval, and EFT (Electronic Fund Transfer) generation
- Automated EFT return operations will be introduced in the future
- A deadline for opening new bank accounts will be set at the end of each fiscal year to reduce complexities
Additionally, the government is working to ensure real-time fund disbursement for beneficiaries of social safety net programs through mobile banking.
With AVS on track for nationwide implementation, Bangladesh is moving toward a more efficient, transparent, and secure financial system, officials stated.
