Dhaka, Sept. 16 -- A cover-all interoperable instant payment system (IIPS) comes soon as experts Monday suggested its immediate introduction to accelerate Bangladesh's transition towards a cashless society and the central-bank governor agreed.

They said digital IIPS infrastructure is crucial to ensuring efficiency, inclusiveness and reducing transaction costs, thus accelerating economic growth.

The recommendations came from a daylong stakeholder consultation on Interoperable Payments in Bangladesh, organised by the Policy Research Institute of Bangladesh (PRI) at a hotel in the capital and supported by the Gates Foundation. Speaking as chief guest, Dr Ahsan H Mansur, Governor of Bangladesh Bank, committed to launching a comprehensive II...