Regulatory Alerts2019-05-02
Added · Updated
PSD Circular Letter No. 02: Airtime purchase by newly registered customer with KYC in progress and return of Cashed In money if KYC is not approved
The document mandates that newly registered customers with pending KYC approval may purchase airtime only up to a maximum of 500.00 BDT using cashed-in funds. It requires Mobile Financial Services (MFS) providers to facilitate cash withdrawals for these funds at their service centers, while other Payment Service Providers (PSPs) must return the deposited funds to the customer's linked bank account.