Bangladesh Bank has introduced a new interoperable digital transaction system from November, allowing seamless money transfers among mobile financial services (MFS) such as bKash, Nagad, and Rocket, as well as between banks and payment service providers (PSPs). The initiative aims to reduce transaction costs and promote a cashless economy. Under the new fee structure, transferring BDT 1,000 from an MFS account to another MFS, bank, or PSP account will cost BDT 8.50, while bank-to-bank or bank-to-MFS transfers will cost BDT 1.50. The central bank has mandated that all charges be displayed before transactions and only the sender will bear the fee. This system operates through the National Payment Switch Bangladesh (NPSB) platform, reviving a similar initiative halted in 2020. Bangladesh Bank previously suspended the ‘Binimoy’ platform due to irregularities and contract violations. The central bank now plans to launch another interoperable platform with support from Mojaloop, an open-source initiative backed by the Gates Foundation.