, July 23 -- The Policy Research Institute of Bangladesh (PRI) on Thursday proposed developing an Inclusive Instant Payment System (IIPS) to unify the country's fragmented digital payment landscape, identifying cross-border remittance as the highest-value use case for the initiative.

The proposal was presented at an inception workshop titled "Analysis of the Inclusive Instant Payment System (IIPS) in Bangladesh and Cross-Border Remittance as a Use Case," held at the PRI office in Banani.

The study was jointly presented by PRI Research Director Dr Bazlul Haque Khondker and Director MA Razzaque.

The proposed system, to be built on the open-source Mojaloop platform, will enable instant, low-cost and interoperable transactions across banks...