PSD Circular No. 11: Self-Assessment of Payment System Operators and Payment Service Providers

Payment Systems Department
Bangladesh Bank
Head Office
Dhaka
Ref. No. PSDC-11
PSD Circular No. 11 Date: -------------------
Managing Director / Chief Executive Officer

All licensed and approved Payment System Operators (PSOs), Payment Service Providers (PSPs) and Mobile Financial Service (MFS) providers, and the Digital Financial Service 'Nagad' of the Post Office, Head Office, Dhaka, from Bangladesh Bank.

Dear Sir,

Regarding the self-assessment of Payment System Operators and Payment Service Providers.

The Payment and Settlement Systems Act, 2024 has been enacted to reduce the risk of transactions and protect consumer interests through the integration, supervision, and regulation of payment, clearing, and settlement systems. Under the powers conferred by Section 18 of the aforementioned Act, Bangladesh Bank can define standards and policies for the operations of Payment System Operators and Payment Service Providers to modernize payment programs, reduce risks, and protect consumer interests.

2. In establishing transparency, security, and stability in all payment-related programs, the role of self-assessment programs by the aforementioned institutions is immense. Because, through a self-recognized self-assessment process, it is possible to ensure the implementation of necessary measures to resolve emerging issues regarding the organizational and legal structure, operational efficiency, financial stability, technical capacity, risk management, internal control, disaster management, and consumer protection of the concerned institution. In this context, a specified format (template) has been developed for the self-assessment of the programs of institutions associated with payment programs.

3. Now, instructions are given to all licensed and approved Payment System Operators and Payment Service Providers from Bangladesh Bank to self-assess their respective institution's programs according to the developed template.

4. The concerned institutions must complete the self-assessment of their programs based on December 31 and submit it to this department by January 31 of the following year, along with documentary evidence and a declaration letter signed by the Chief Executive Officer (sample attached).

This instruction is issued under the power granted by Section 18(4) of the Payment and Settlement Systems Act, 2024, and will take effect immediately.

Yours faithfully,

Enclosures: a) Declaration Letter (01 page), b) Excel Template.

(Mohammad Kamrul Islam)
Director (PSD)
Phone: +880-2-55665001-6/22370
08 September 2025
24 Bhadra 1432

Declaration Letter
Date:

Director
Payment Systems Department
Division-3 (Oversight)
Bangladesh Bank
Head Office, Dhaka.

Subject: Regarding the reporting of self-assessment based on December 31, 20XX.

Dear Sir,

In accordance with the instructions of PSD Circular No. 11 dated 08 September 2025, we have duly completed the self-assessment of our institution's programs based on December 31, 20XX. In this regard, the filled template and supporting documentary evidence are attached herewith. To the best of our knowledge and belief, accurate information has been provided in the filled template, reflecting the true state of the institution. We ensure that necessary measures have been taken to identify weaknesses in our institution's operational system, technical capacity, internal control, service quality, consumer protection, uninterrupted service delivery, and compliance with Bangladesh Bank's rules, regulations, and guidelines regarding payment programs.

Signature: XXXXXXXXXXXXXXXX
Name:
Designation: Managing Director / Chief Executive Officer Institution Name:
Phone:
E-mail: