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Project Overview
ELDORADO is a web based Remittance Processing System for Taka payments, which will be interfaced with the Bangladesh Bank ACH (Automated Clearing House) and will run as an independent association of member Banks. In El Dorado transactions will be settled on a bi-lateral net settlement basis
The system platform will be a direct electronic substitute of present day manual instruments such as DD (Demand Draft), TT (Telegraphic Transfer ) & MT (Mail Transfer) used under existing inter-bank agency agreements. This remittance engine will be fully compliant with all relevant central bank regulations and will automatically provide the necessary MIS directly to Bangladesh Bank for supervision and monitoring.
The essence of the ELDORADO initiative is to create a standardized IT platform that will enable all member banks to execute remittances electronically in the most expeditious manner. From the remitter/beneficiary perspective this would mean extremely quick turnaround times for foreign remittances and for banking intermediaries. This would allow more transactions to be executed with the same level of resources. In this manner the distinct advantages of processing transactions electronically would become palpably clear to processing personnel.
Project Overview
Value additions through ELDORADO
Current Member Banks
Process Flow
Members Bank :
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Developed By : Business Systems Management,BRAC Bank Limited