Fintech Guide
The Ultimate Guide to Fintech Licensing in Bangladesh (MFS, Digital Bank, PSP, PSO) - 2025
Your complete resource for understanding the fintech license application procedure, capital requirements, and regulatory framework under the new Payment and Settlement Systems Act, 2024.
Overview: Fintech Licenses in Bangladesh
This guide provides a high-level comparison of the primary fintech licenses available in Bangladesh, regulated by Bangladesh Bank. The chart below offers a quick visual summary of the minimum capital required for each license type, a critical factor for market entry. All licensing now falls under the statutory authority of the landmark Payment and Settlement Systems Act, 2024.
Minimum Paid-up Capital Comparison (BDT Crore)
Detailed Fintech License Comparison
For entrepreneurs and investors, selecting the correct license is paramount. This table offers a detailed comparison of the key features, operational scope, and regulatory obligations for Mobile Financial Services (MFS), Digital Bank, Payment Service Provider (PSP), and Payment System Operator (PSO) licenses in Bangladesh, all governed by the Payment and Settlement Systems Act, 2024.
| Feature | MFS | Digital Bank | PSP (General) | PSO |
|---|---|---|---|---|
| Primary Function | E-money services via agents | Digital banking (deposits, loans) | Payment services (e-wallets, gateways) | Operates payment infrastructure (switches) |
| Min. Paid-up Capital | BDT 45 Crore | BDT 125 Crore | BDT 20 Crore | BDT 0.5 Crore |
| Primary Legislation | PSS Act, 2024; MFS Regs 2022 | Bank Companies Act, 1991; PSS Act, 2024 | PSS Act, 2024; BPSSR 2014 | PSS Act, 2024; BPSSR 2014 |
| Can Issue E-money? | Yes | N/A (Bank Deposits) | Yes | No |
MFS License in Bangladesh: Application Procedure
A Mobile Financial Services (MFS) license allows an entity to operate as a specialized PSP, offering e-money through an agent network. Here is the checklist for the MFS license application procedure, governed by the Payment and Settlement Systems Act, 2024 and MFS Regulations, 2022.
Digital Bank License in Bangladesh: Requirements
A Digital Bank license permits a branchless banking operation. While primarily licensed under the Bank Companies Act, it must comply with the Payment and Settlement Systems Act, 2024 for its payment activities. This section outlines the key Digital Bank license requirements.
PSP License in Bangladesh: A Complete Checklist
A Payment Service Provider (PSP) license is for entities offering e-wallets or payment gateways. Below are the detailed requirements for the PSP license application in Bangladesh, based on the framework of the Payment and Settlement Systems Act, 2024.
PSO License in Bangladesh: The Definitive Guide
A Payment System Operator (PSO) license is for companies that operate core payment infrastructure. This guide covers the complete PSO license procedure in Bangladesh, as mandated by the Payment and Settlement Systems Act, 2024.
How LegalSeba LLP Can Help You Secure Your Fintech License
Navigating the complex regulatory landscape for a fintech license in Bangladesh, especially under the new Payment and Settlement Systems Act 2024, requires expert legal guidance. LegalSeba LLP provides end-to-end fintech legal advisory to ensure your application is comprehensive, compliant, and positioned for success with Bangladesh Bank.
- ✓Strategic Advisory: We provide expert guidance on the Payment and Settlement Systems Act 2024 and help you choose the most suitable license (MFS, Digital Bank, PSP, or PSO) for your business model.
- ✓Complete Documentation and Dossier Preparation: Our team assists in preparing and vetting all required documents, ensuring full compliance with the new Act and associated regulations.
- ✓Application Management: We manage the entire two-phase application process, from submitting the initial application for the NOC to compiling the final dossier for the full license.
- ✓Regulatory Liaison: We act as your representative, providing full Bangladesh Bank license application support by interfacing with the Payment Systems Department (PSD) and other authorities to address queries and ensure a smooth process.
Ready to Launch Your Fintech Venture in Bangladesh?
Let our experts guide you through every step of the licensing process. Contact us today for a personalized consultation.