Bangladesh, July 29 -- The central bank has introduced a bank-intermediated framework for cross-border digital payments to modernize the payment ecosystem, enhance digital financial inclusion, and support growing trade in services.

Under the framework, authorised dealer (AD) banks are allowed to process outward remittances through partnerships with foreign payment platforms and service providers, termed Cross-Border Digital Payment Service Providers (CDPSPs), according to a notification issued by the Bangladesh Bank (BB) on Wednesday.

A core feature of the framework is the introduction of Digital Value Accounts (DVAs) - digital wallets or stored-value accounts opened in the name of users. These accounts will operate under a Master DVA...