Regulatory Alerts2023-02-08
Added
PSD Circular Letter No. 01: Regarding Augmentation of Bangla QR Code Based Payments
The document mandates that banks and institutions replace proprietary QR codes with 'Bangla QR' codes by June 30, 2023. It removes the maximum daily transaction limit of 20,000 BDT for individual static 'Bangla QR' transactions, allowing entities to set their own limits based on risk assessment. Additionally, banks and institutions are required to conduct due diligence and monitoring on suspicious or large QR-based transactions.
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