Regulatory Alerts2023-08-28
Added
PSD Circular Letter No. 05: Regarding determination of uniform service charge of MFS for implementation of Universal Pension Scheme
The Ministry of Finance and Bangladesh Bank mandate a uniform service charge of 0.70% for Mobile Financial Services (MFS) used to pay contributions to the Universal Pension Scheme via the Person to Government (P2G) method. MFS providers are required to send a confirmation message to contributors after funds are deposited into the pension authority's account. This directive, effective immediately, aligns MFS pension contribution charges with the existing cash-out charge for social safety net programs.
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