Regulatory Alerts2024-07-09
Added · Updated
PSD Circular No. 08: Interoperable Digital Transaction Platform (IDTP) 'Binimoy' Operating Rules
All scheduled banks, Mobile Financial Service Providers, Payment Service Providers, and Payment System Operators participating in the Interoperable Digital Transaction Platform 'Binimoy' must follow the enclosed Binimoy Operating Rules with immediate effect. The rules establish operational standards for transaction types including Direct Pay, Request to Pay, and government disbursements, while defining participant roles as direct or indirect entities with specific Net Debit Cap limits. Obligations include maintaining settlement accounts, adhering to fee management structures, and complying with dispute resolution procedures and record retention periods of up to ten years.
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