Safenet Awarded Spectrum as a New Partner of The Year

Spectrum BD (Bangladesh) and eSECURE Technology (Taiwan) received the New Partner of the Year award for the significant projects they brought to Gemalto. Spectrum BD sold a Hardware Security Module (HSM) solution to the Central Bank in Bangladesh for its Real Time Gross Settlement project, and eSECURE Technology brought Gemalto an authentication project for a major bank in Taiwan last year.

Cisco Award SAARC Partner of the Year FY-2014

Cisco awarded Spectrum their Cisco SAARC Partner Award of the Year 2014 in Cisco SAARC Partner Confluence 2014 held in Goa for the achievement of generating highest revenue in the region of Bangladesh, Nepal and Bhutan.

Mr. Mushfiqur Rahman, Deputy Managing Director of Spectrum Engineering Consortium (Pvt.) Ltd., had received this award from Cisco India President. Mr. Mushfiq thanked Cisco with grace for appreciating them and promised to keep the Cisco flag high with better business in coming future.

Spectrum Employed 5 Disables Under Corporate Social Responsibility

Tithi Hali from Bagerhat Morolganj said, “We do not want to be burden on any one else rather use our potential through hard work. But for that we need a little support from others so that we can show the world how we can contribute. She talked in the session called “Respectful Working Environment for Disable People” arranged by Bangladesh Computer Council and Center for Services and Information on Disabilities (CSID).  In this session 90 disable young people had joined and out of them 32 already got job placement in that particular session.

Spectrum had placed 5 disable people in their company right away as part of their corporate social responsibility.

BB signs deal with CMA to introduce RTGS by Sept 15

Dhaka, Bangladesh (BBN) -The central bank of Bangladesh signed a deal with Sweden-based CMA Small Systems AB on Thursday to introduce a Real Time Gross Settlement (RTGS) system by the end of September 2015.

“We’re going to improve the high-value time critical payments in the country introducing the
RTGS system,” said Bangladesh Bank (BB) Governor Dr. Atiur Rahman.
He was addressing the signing ceremony as the chief guest at the central bank headquarters in Dhaka.
Introducing the RTGS system, the central bank boss said the system will accommodate local currency transactions, government security transactions and domestic foreign currency transactions.

“The RTGS is not only a state-of-the-art payment system but also a tool for mitigating credit and systemic risks in the economy,” he said. Subhankar Shaha, executive director of the BB and
Alex Nazaroff, managing director of the CMA Small Systems AB signed the agreement on behalf of their respective organisations. Dr. Rahman also said the central bank has been working relentlessly for the improvement of the payment systems of the country over the past few years. “Introduction of Bangladesh Automated Clearing House (BACH) is a milestone achievement in this regard,” Dr Rahman said. Earlier, BB has implemented the National Payment Switch (NPS) Bangladesh for streamlining country’s card-based payments. Twenty nine commercial banks have already joined the NPS and 85 percent of ATMs are touching this NPS, the BB governor added.

“We’re now working with the stakeholders using POS. We’ll also bring MFS (mobile financial services) providers into this National Payment Switch. We have now 20 million MFS accounts. Mobile Financial Services were introduced for accommodating the unbanked strata of the society,” he noted.

Among others, Deputy Governors of the BB Abul Quasem and Nazneen Sultana, also spoke on the occasion. Asian Development Bank is providing the financial assistance for implementing the RTGS, the BB officials said. The RTGS, which can be defined as the continuous (real-time) settlement of funds transfers individually on an order by order basis (without netting).
‘Real time’ means the processing of instructions at the time they are received rather than at some later time. ‘Gross Settlement’ means the settlement of funds transfer instructions occurs individually (on an instruction by instruction basis).