Foreign
Bangladesh central bank allows mobile financial services to bring in remittances
Online Payment Gateway Service Providers
– The central bank of Bangladesh has allowed mobile financial service providers (MFSPs) to bring remittances from wage earners to Bangladesh.
“To provide greater flexibility, licensed MFSPs will be able to repatriate employee remittances in partnership with internationally recognized Online Payment Gateway Service Providers (OPGSPs) or banks or digital wallets or card schemes and/or aggregators in the (hereafter referred to as approved or licensed foreign payment service providers), Bangladesh Bank (BB) said in a circular issued here on Tuesday.
He said that MFSPs will have permanent agreements with foreign payment service providers (PSPs) to receive foreign currency in their account and the equivalent value of Taka will be credited to the MFS accounts of employees.
After receiving the Taka amount, employees can use the MFS account from abroad to carry out all Taka transactions. ■
(Xinhua)
