Dhaka, May 31 -- A new milestone is coming in the digital financial ecosystem of Bangladesh. Its journey began in 2021. At that time, Bangladesh Bank prepared the framework of Bangla QR under the title "National QR Code Standard for Retail Payments in Bangladesh" to make QR code-based transactions interoperable and formulated Guidelines for 'Bangla QR' Code Based Payments to introduce and popularise Bangla QR-based transactions within the country. And now the new milestone is peer-to-peer (P2P) fund transfer using Bangla QR. Bangladesh Bank is set to introduce an interoperable Bangla QR standard that will enable seamless peer-to-peer (P2P) fund transfers simply by scanning the beneficiary's QR code.

Bangladesh already hosts a vast digita...