BB working to introduce mobile interoperability: Governor

Bangladesh Bank (BB) Governor Dr Ahsan H Mansur on Tuesday said that the central bank is working to introduce a platform for mobile interoperability soon to boost digital transactions.

"The country now needs to ensure mobile financial interoperability service that will help execute large volumes of transactions," he said, addressing an event on celebrating a decade of progress in transforming the payments landscape in Bangladesh.

BB organised the event at a city hotel where officials of commercial banks were present.

Mansur said that the central bank is actively working on the initiative and has already engaged with development partners for support.

He hopped that they will be able to start the operation shortly.

Mobile interoperability is a system that allows users to transfer money between different mobile networks and bank accounts.

Users can store, send and receive money using electronic accounts linked to their phone numbers.

At present, bKash, the largest mobile financial service provider in Bangladesh, has agreement with 18 banks for mobile interoperability.

The Bangladesh Bank will develop a central platform like National Payment Switch Bangladesh (NPSB) and Bangladesh Real Time Gross Settlement (BD-RTGS) through which financial sector providers will be connected to operate mobile interoperability.