Bangladesh Bank has directed all banks, mobile financial service (MFS) providers, payment service providers (PSP), and payment system operators (PSO) to establish a dedicated 'Cashless Bangladesh Unit' at their head offices by March 31. The directive, issued by the central bank’s Payment Systems Department, aims to strengthen the country’s transition toward a cashless and digital payment infrastructure.

According to the circular, the initiative is part of a broader government and central bank effort to expand digital transactions nationwide. The use of Bangla QR, internet banking, and point-of-sale (POS) machines has been increasing significantly. To ensure better coordination, each institution must have a designated unit. Under the Cashless Bangladesh initiative, inclusion of Bangla QR transactions has been made mandatory for licensing and renewal of retail merchants.

The circular further specifies that a deputy managing director or equivalent officer will oversee the unit in banks, while a senior officer one rank below the managing director will lead it in MFS, PSP, and PSO organizations. Institutions must submit unit details to Bangladesh Bank by March 31 and provide annual reports on cashless activities by the end of each March.