Only a small number of institutions have fully activated Bangladesh Bank’s new interoperable digital payment system, with most participants either partially active or still undergoing testing, according to the central bank’s latest MFS Interoperability Live Transaction and Testing Status Report.

Islami Bank Bangladesh, Mutual Trust Bank, and Premier Bank PLC are the only banks currently handling both incoming and outgoing transactions. Islami Bank’s interoperability is functional via its internet banking platform.

Among mobile financial services (MFS) providers, mCash is fully operational, while Rocket and bKash remain partially integrated. Nagad has been excluded from the platform due to licensing issues. The payment service provider TallyKhata is managing both incoming and outgoing transactions.

Some institutions have enabled limited connectivity. Pubali Bank PLC can process only outgoing transactions, while Islamic Wallet and Rocket are restricted to incoming transfers. Despite being the country’s largest MFS provider, bKash currently operates only on incoming transactions.

Several other banks remain in the testing or deployment phase. Eastern Bank PLC and Al-Arafah Islami Bank PLC have completed tests for both incoming and outgoing transactions but are awaiting live deployment. Dutch-Bangla Bank PLC, Standard Bank PLC, and BRAC Bank PLC have completed user acceptance testing but are yet to go live.

Overall, only five out of more than a dozen planned participants are fully operational on both incoming and outgoing ends, while most others continue in various stages of testing and integration.

Among banks, Islami Bank Bangladesh, Mutual Trust Bank, and Premier Bank PLC are currently handling both incoming and outgoing transactions. Islami Bank’s interoperability functions via its internet banking platform.

For MFS providers, mCash is fully operational, while Rocket and bKash are only partially integrated. Nagad has been excluded due to licensing issues. Meanwhile, TallyKhata manages both incoming and outgoing transactions.

Partial or Limited Connectivity
Some institutions have enabled limited connectivity:

Pubali Bank PLC – only outgoing transactions.
Islamic Wallet and Rocket – only incoming transfers.
bKash, despite being the country’s largest MFS provider, currently operates solely on incoming transactions.

Testing and Deployment Phase
Several banks are still in testing or awaiting live deployment:

Eastern Bank PLC and Al-Arafah Islami Bank PLC – completed tests for both transaction types but awaiting deployment.
Dutch-Bangla Bank PLC, Standard Bank PLC, and BRAC Bank PLC – completed user acceptance testing but not yet live.