Bangladesh Automated Clearing House (BACH), the new automated cheque processing system, will be responsible for the processing of cheque, credit and debit payment instruments. The BACH will affect the installation of systems and processes that support modern automated cheque processing utilizing Magnetic Ink Character Recognition (MICR) and Imaging Technologies.
The BACH component of the Remittance and payment
partnership (RPP) project is managed and implemented in a fast-track manner, as
it is expected to be the engine that will drive the remittance and payments
process in promoting pro-poor economic growth. It establishes the
infrastructure for a modern payments system, which could be part of a future e-Government
Gateway to provide services to financial sector using the Internet.
BACH represents the overall system and facility that
supports the exchange and settlement of payment items between participating
Banks and the Bangladesh Bank