A company called ‘Samadhan Services Limited‘, which is part of Grameen Telecom, has been given a license by Bangladesh Bank to work as a Payment Service Provider (PSP) in the country. This means they can now operate digital wallet services.
License Approved by Bangladesh Bank
Bangladesh Bank’s spokesperson, Arif Hossain Khan, said that this license was issued on June 2nd, according to the Payment and Settlement System Act 2024.
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Long Wait for the License
Samadhan Services Limited had applied for this license a long time ago, on November 16, 2021. Even though they were qualified to get a No Objection Certificate (NOC), the central bank delayed making a decision until August 2024.
On September 29, 2024, the NOC was finally granted, paving the path for their PSP licence.
Board Members of Samadhan
The board of directors of Samadhan Services has nine members. Most of them are appointed by Grameen Telecom.
Key People in the Company
The Chairman of the company is M Shahjahan, who used to be the Managing Director of Grameen Bank. The Managing Director is Md. Ashraful Hasan, who is also the Chairman of Grameen Telecom.
What the Company Will Do
As a PSP, Samadhan Services will make it easier for people to make electronic payments and settle transactions. They will do this through scheduled banks or financial institutions. Essentially, they will help in digital money transfers and payments.
Source: TBS
