PSD Circular Letter No. 02: Amendment of PSD Circular No. 04/2017

This circular amends Section 2.2.1 of PSD Circular No. 04/2017 by requiring all POS terminals established by member banks and financial institutions of Non-Payment System Banks (NPSB) operating in Bangladesh to be integrated with the NPSB by December 31, 2018. It further mandates that all inter-bank card transactions conducted via these POS terminals must be processed through the NPSB. The directive is effective immediately, while all other provisions of the original circular remain unchanged.

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Payment Systems Department
Bangladesh Bank
Head Office
Dhaka

Date: 21 December 2017
07 Poush 1424

PSD Circular Letter No. 02/2017

Managing Director / Chief Executive Officer All Scheduled Banks Operating in Bangladesh

Dear Sir,

Regarding the partial amendment of PSD Circular No. 04/2017.

Reference is made to PSD Circular No. 04/2017 issued on August 24, 2017.

Section 2.2.1 of PSD Circular No. 04/2017 shall be replaced by the following:

"All POS terminals established by member banks and financial institutions of Non-Payment System Banks (NPSB) operating in Bangladesh shall be integrated with the NPSB by December 31, 2018, and inter-bank card transactions conducted via POS shall be processed/completed through the NPSB."

Furthermore, all other matters in PSD Circular No. 04/2017 shall remain unchanged.

This directive shall take effect immediately.

(S. M. Rezaul Karim)
Deputy General Manager
Phone: 9530311
Fax: 9530096

Lineage: In force

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Timeline

This document amends: PSD Circular No. 04/2017: Ensuring Security, Minimizing Transaction Risks and Enhancing Public Awareness in Card-Based Payments Through Different Payment Channels to Discourage or Reduce Cash Transactions

Source: Bangladesh Bank — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works