Bangladesh, July 30 -- The Bangladesh Bank has introduced a bank-intermediated framework for cross-border digital payments, paving the way for local banks to partner with international payment platforms such as PayPal, Payoneer and similar service providers.History

The initiative aims to modernise the country's payment ecosystem, facilitate international trade in services and expand digital financial inclusion.

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 t...