Bangladesh, Feb. 23 -- State-run Bangladesh Railway (BR) will launch its accounting reform this year as it is set to enter into the government's "iBAS" system aimed at ensuring transparency.
Launched in 2005, the Integrated Budgeting and Accounting System (iBAS) is a centralised online system, which allows budget preparation and its distribution, fund release, online submission of bills and others.
The BR is an autonomous body of the government that does not require prior permission for purchase and payment to its contractors and other parties.
Officials familiar with the matter at the ministry of finance (MoF) told the FE that the centralised system will bring transparency in the BR transactions.
"As a part of accounting reforms, the i...