Bangladesh Bank has officially licensed Samadhan Services Limited, a subsidiary of Grameen Telecom founded by Dr. Muhammad Yunus, to operate as a Payment Service Provider (PSP). This authorization allows the company to offer e-wallet and cashless digital wallet services in Bangladesh under the brand name “Samadhan,” as announced by the Payment Systems Department of Bangladesh Bank.
The PSP license, granted under Section 5(4) of the Payment and Settlement Systems Act, 2024, became effective recently, following a protracted approval process. Samadhan Services Limited initially applied for the license on November 16, 2021, but delays occurred due to political resistance at high levels of the former government and central bank. The application gained momentum after Dr. Ahsan H Mansur took office as Bangladesh Bank governor, leading to the issuance of a No Objection Certificate in September 2024.
The company’s board comprises nine members nominated by Grameen Telecom, chaired by M Shahjahan, former managing director of Grameen Bank, with Md Ashraful Hasan, chairman of Grameen Telecom, serving as managing director.
Currently, Bangladesh Bank has approved eight PSPs, including iPay Systems, D Money Bangladesh, and Recursion Fintech. Meanwhile, mobile operators Robi and Banglalink are exploring their own digital wallets, and online marketplaces Daraz and Chaldal have applied for PSP licenses. Additionally, 16 banks offer authorized Mobile Financial Services (MFS) in the country.
