Most operators still in testing phase to launch interoperability service

Only a handful of institutions have fully joined Bangladesh Bank's newly launched interoperable digital payment system, while most participants remain either partially active or still undergoing testing, according to the central bank's latest MFS Interoperability Live Transaction and Testing Status Report.

Islami Bank Bangladesh, Mutual Trust Bank, and Premier Bank PLC have activated both incoming and outgoing transactions under the system. Islami Bank's interoperability is currently functional through its internet banking platform.

Among mobile financial services, only mCash is fully operational, while Rocket and bKash have partial integration.

Nagad, meanwhile, has been excluded from the platform due to licensing issues. Payment service provider TallyKhata is also handling both incoming and outgoing transactions.

Some institutions have enabled limited connectivity. Pubali Bank PLC has activated only outgoing transactions, while Islamic Wallet and Dutch-Bangla Bank's Rocket can process only incoming transfers.

Despite being the country's largest MFS provider, bKash is operating partially, with only incoming transactions active.

Several others remain in the testing or deployment phase. Eastern Bank PLC and Al-Arafah Islami Bank PLC have completed both incoming and outgoing tests and are awaiting live deployment.

Dutch-Bangla Bank PLC, Standard Bank PLC, and BRAC Bank PLC have finished user acceptance testing but are yet to go live.

Overall, only five out of more than a dozen planned participants have become fully operational on both ends, while most others are still in various stages of testing.