Bangladesh Bank selects Fime for launch of domestic card scheme

Under the terms of the agreement, Fime will provide consulting and testing services, and set up a certification body framework.

Fime’s consultants will first support the Bangladesh Bank in defining its payment strategy with the aim of improving financial inclusion, sovereignty and security. Fime will also be involved in preparing the certification body framework and will support with onboarding and the eventual running and operation of the scheme.

Angaj Bhandari, VP - MEA, India and South Asia at Fime, says: “This initiative will be fundamental in increasing the penetration of digital payments and boosting financial inclusion in the region. Our experts in South Asia will deliver global expertise at a local level, tailoring the domestic scheme and its digital payments architecture to the unique requirements of the Bangladeshi market.”

Fime has supported multiple domestic card schemes globally, with Bangladesh marking the second time it has done so in South Asia following its work on India’s RuPay scheme.