Grameen Telecom entity gets digital wallet license from BB
Bangladesh Bank granted a licence to Samadhan Services Ltd, a subsidiary of Grameen Telecom, to operate as a payment service provider (PSP) in the country.
The licence was issued on 2 June under the Payment and Settlement System Act 2024, confirmed Bangladesh Bank spokesperson Arif Hossain Khan.
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The company had initially applied for the licence on 16 November 2021. Although it met the criteria to obtain a No Objection Certificate (NOC), the central bank postponed its decision until August 2024. The NOC was eventually issued on 29 September 2024, clearing the path for the PSP licence.
Samadhan's board of directors consists of nine members, the majority nominated by Grameen Telecom. The chairman, M Shahjahan, is a former managing director of Grameen Bank, while managing director Md Ashraful Hassan also chairs Grameen Telecom.
As a PSP, the company will facilitate electronic payments and settlement of transactions through scheduled banks or financial institutions.
