First ever digital pre-paid cash card soon
Friday, 4 September 2009
The country will soon get the first ever pre-paid cash card as Bangladesh Bank (BB) has decided to allow the commercial banks to issue the instrument for facilitating the customers, reports BSS.
The central bank Tuesday initiated the cash digitalisation process with the approval of a private bank's proposal to introduce pre-paid cash card in the country.
The Trust Bank Limited, one of the leading financial institutions in the private sector, has got the permission from the central bank to introduce the pre-paid digital cash card.
People in developed countries can get the pre-paid cash card even from the post shops for all sorts of cash transactions.
In Bangladesh, initially the Trust Bank will issue the cash card and the other banks will get the similar permission later, a BB official told the news agency Thursday.
The Trust Bank Limited in July this year formally sought the approval of BB for the cash card, which the bank will introduce in association with two other private companies -- Digital Technologies Limited and Information Technology Consultant Limited.
The central bank Tuesday initiated the cash digitalisation process with the approval of a private bank's proposal to introduce pre-paid cash card in the country.
The Trust Bank Limited, one of the leading financial institutions in the private sector, has got the permission from the central bank to introduce the pre-paid digital cash card.
People in developed countries can get the pre-paid cash card even from the post shops for all sorts of cash transactions.
In Bangladesh, initially the Trust Bank will issue the cash card and the other banks will get the similar permission later, a BB official told the news agency Thursday.
The Trust Bank Limited in July this year formally sought the approval of BB for the cash card, which the bank will introduce in association with two other private companies -- Digital Technologies Limited and Information Technology Consultant Limited.