Samadhan Services Limited, a subsidiary of the Grameen Telecom Trust, has obtained its final licence from Bangladesh Bank to operate as a payment service provider (PSP). The licence, issued under the Payment and Settlement System Act 2024, marks the culmination of a lengthy application process.
PSPs in Bangladesh typically offer e-wallet or digital wallet services that enable customers to open accounts, transfer funds, and conduct transactions such as online shopping, bill payments, and tuition fee settlements. Prior to Samadhan, eight other companies, including iPay and D Money, had been licensed as PSPs in the country.
Owned by the Grameen Telecom Trust, Samadhan’s governance links to prominent figures such as Professor Muhammad Yunus, former chairman before Md Ashraful Hasan succeeded him. Samadhan initially applied for the licence on November 16, 2021. Although it fulfilled all criteria for a no objection certificate, political changes delayed approval until August 2024. The certificate was granted on September 29, 2024, paving the way for the final licence issuance.
This approval allows Samadhan to expand digital payment services in Bangladesh, further contributing to the country’s growing fintech ecosystem.
