Regulatory Alerts2021-03-07
Added
PSD Circular No. 02: Regarding Commercial Advertisement in Different Print/Electronic/Social Media
The Bangladesh Bank directs Mobile Financial Service (MFS) providers, Payment Service Providers (PSPs), and Payment Systems Operators (PSOs) to refrain from using derogatory or aggressive language against other providers in commercial advertisements and promotional activities across print, electronic, and social media. This directive mandates that all promotional activities be conducted in accordance with the National Advertising Policy-2014. The instruction is effective immediately.
www.bangladeshbank.org.bd www.bb.org.bd
Payment Systems Department Bangladesh Bank Head Office Dhaka.
07 March, 2021 PSD Circular No.: 02/2021 Date: ----------------------- 22 Falgun, 1427
Managing Director/Chief Executive Officer Mobile Financial Services (MFS) Providing Banks and Subsidiary Institutions, Payment Services Providers (PSP) and Payment Systems Operators (PSO) Institutions.
Dear Sir,
Regarding the promotion of commercial advertisements or similar activities in various print/electronic/social media.
Reference is drawn to your attention to Section 6(b)(v) of the Bangladesh Payment and Settlement System Regulations, 2014 issued by Bangladesh Bank and Sections 4.4 and 16.2 of the Bangladesh Mobile Financial Services (MFS) Regulations, 2018.
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It has been observed recently that in commercial promotions and public relations advertisements (newspapers, magazines, various websites, YouTube, SMS sent to phones, Facebook, LinkedIn, Twitter, etc.) or similar promotional other activities (posting, installation of billboards, distribution of leaflets, display of banner-festoons at agent-merchant points, etc.) promoted by various e-wallet/e-money service provider institutions such as: Mobile Financial Services (MFS) providers, Payment Services Providers (PSP) and Payment Systems Operators (PSO), one provider belittles or uses derogatory and aggressive words regarding the services provided by another provider, which is undesirable and unwanted.
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In this regard, you are directed to avoid the use of derogatory and aggressive words in commercial promotions and public relations advertisements or similar promotional other activities promoted in print/electronic/social media and to refrain from all types of negative promotions, and to conduct all types of promotional activities in accordance with the 'National Advertising Policy-2014'.
This directive will take effect immediately.
Yours faithfully,
(Signature)
(Md. Mezbaul Haque) General Manager Phone: 02-9530174 E-mail: mezbaul.haque@bb.org.bd