Regulatory Alerts2026-03-16
PSD-1 Circular No. 02: Regarding the Establishment of the Cashless Bangladesh Unit
The Bangladesh Bank has issued Circular No. 02 mandating all banks, Mobile Financial Service (MFS) providers, Payment System Operators (PSO), and Wholesale License Market Agents (WLMA) to establish a dedicated 'Cashless Bangladesh Unit'. This unit is required to coordinate the implementation of the Cashless Bangladesh initiative, including the promotion of Bangla QR, digital payment infrastructure, and the transition to a cashless economy. Institutions must submit the names and contact details of their designated unit heads to the relevant department by March 31, 2026, to ensure timely execution of these directives.
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