Samadhan Services Limited, a concern of the Grameen Telecom Trust, has received a final licence from the Bangladesh Bank to operate as a payment service provider.
The central bank issued the licence on Tuesday under the Payment and Settlement System Act 2024, following a prolonged application process.
PSPs are typically known for offering e-wallet or digital wallet services. Through these platforms, customers can open accounts, transfer funds from their bank accounts or other sources, and carry out various transactions such as online purchases, bill payments and tuition fee payments.
Before Samadhan, eight other entities, including iPay and D Money, had received PSP licences in Bangladesh.
Samadhan Services Limited is owned by the Grameen Telecom Trust. Prior to taking office as the chief adviser of the interim government, Professor Muhammad Yunus served as the chairman of the Grameen Telecom Trust. Yunus was later succeeded by Md Ashraful Hasan.
Samadhan applied for the licence on November 16, 2021. Although it met all requirements for a no objection certificate, the decision was delayed until the political changeover on August 5, 2024. The no objection certificate was eventually approved on September 29, 2024, clearing the path for the final approval.
