Dhaka: Bangladesh Bank (BB) has issued a directive to banks and financial institutions, mandating the instant settlement of all successful transactions conducted via Bangla QR codes. This new requirement aims to streamline the process and ensure that funds from these transactions are credited immediately to the accounts of small and marginal businesses.
According to Bangladesh Sangbad Sangstha, the central bank's circular specifies that financial institutions providing Bangla QR codes must facilitate instant credit for transactions involving designated small and marginal businesses. This measure is targeted at businesses classified under individual retail accounts. For merchants not included in this category, financial institutions have been granted the discretion to determine their own settlement periods, allowing them to consider factors such as customer relationships and associated risks.
To ensure a smooth transition to this new system, Bangladesh Bank has set an implementation deadline, urging financial institutions to introduce the instant settlement mechanism by December 15, 2025. This initiative is part of broader efforts to reduce reliance on cash transactions and promote the development of a cash-less society within Bangladesh. The primary objective is to further enhance the adoption and efficiency of Bangla QR code-based transactions across the country.