Banglalink wins PSP licence to launch digital payments in Bangladesh

Bangladesh's central bank, Bangladesh Bank, gave a special permission called a Payment Service Provider licence to a phone company called Banglalink.

The permission was given on August 11.

It allows Banglalink to start a new digital money service called Mukto Pay.

With Mukto Pay, people will be able to send money using their phones.

They can also pay for things they buy in shops or online.

They can pay utility and government bills, and companies can send salaries through it.

The service is meant to help people who do not have bank accounts.

Banglalink wants to use its large network of phone customers to reach more people across Bangladesh.

The company is changing from just a phone company into a digital services company.

This can help Bangladesh move towards a future where people use less cash.