BB extends deadline for MFS card-to-wallet add money compliance to 31 Dec
Mobile financial service providers and scheduled banks failing to implement the required measures by the deadline will have to suspend card-to-MFS 'add money' services from 1 January 2027.
The Bangladesh Bank has extended the deadline for implementing regulatory instructions relating to card-to-mobile financial services (MFS) account 'add money' transactions until 31 December 2026.
The central bank issued the directive through PSD-1 Circular Letter No. 03/2026 today (30 July), signed by ANM Moinul Kabir, director of Bangladesh Bank's Payment Systems Department-1 (PSD-1), and addressed to the managing directors and chief executive officers of all mobile financial service providers and scheduled banks operating in the country.
According to the circular, the implementation deadline for the instructions outlined in serial numbers 02 and 03 of PSD-1 Circular No. 03, issued on 19 May 2026, has been extended to 31 December 2026.
Keep updated, follow The Business Standard's Google news channel
Bangladesh Bank said institutions must ensure compliance with the directives within the extended timeframe. Failure to do so will require them to discontinue card-to-MFS account 'add money' services from 1 January 2027.
The central bank also clarified that all other instructions contained in the 19 May circular will remain unchanged.
The directive has been issued under Section 18 of the Payment and Settlement Systems Act, 2024.
