An initiative has been taken to introduce international payment and money transfer services provided by foreign transaction service providers such as PayPal and Payoneer in Bangladesh.

To this end, Bangladesh Bank has introduced a "bank-intermediary framework" for processing cross-border digital payments, under which banks in the country will be able to launch such services by signing agreements with companies like PayPal and Payoneer.

Bangladesh Bank said the initiative aims to facilitate international trade in services, expand digital financial inclusion, and modernise the country's payment infrastructure.