Regulatory Alerts2012-11-07
Added · Updated
PSD Circular No. 02: BIN list for local proprietary cards
Bangladesh Bank will issue new Bank Identification Numbers (BINs) for local proprietary cards issued by commercial banks, non-bank financial institutions, and the Bangladesh Post Office, using a format starting with the prefix 9 followed by a 3-digit bank code and a range of 01 to 99. Entities must apply to the Payment Systems Department for new BINs for new card products and gradually phase out existing BINs for local proprietary cards. Additionally, only the Single Message System (SMS) is permitted for local Point-of-Sale transactions through the National Payment Switch Bangladesh, requiring the swiped amount to equal the settlement amount.
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