Dhaka, May 6 -- The 'Payment and Settlement System Bill, 2024' was placed in Parliament on Monday to bring banks as well as non-bank payment service providers under the legal framework to protect the interests of customers.

State Minister for Finance Ministry Waseqa Ayesha Khan, in favour of Finance Minister AH Mahmud Ali, placed the Bill in Parliament and it was sent to the Parliamentary Standing Committee on the Ministry of Finance for further examination. The Committee was asked to submit its report within 15 days.

According to the proposed law, any banking company can not participate in any payment system, operate payment system or provide payment services in electronic currency without obtaining approval from Bangladesh Bank.

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