Bangladesh Bank has recommended opening payment services for private educational institutions to all banks, financial institutions, and mobile financial service (MFS) providers, instead of limiting transactions to a single government payment gateway.
In a recent letter to the Ministry of Education, the central bank suggested revising existing regulations that require private educational institutions to collect tuition fees and other payments primarily through Sonali Payment Gateway (SPG).
Bangladesh Bank warned that relying on a single gateway could create operational risks and service disruptions if technical issues occur. The central bank believes that allowing multiple licensed payment gateways would improve service quality, reduce system risks, and provide greater convenience for students and guardians.
The recommendation would enable students to pay fees through various licensed payment service providers, private banks, and mobile financial services, fostering competition and improving efficiency in the education payment system.
Industry stakeholders say the move could enhance service standards, lower costs, and make digital payments more accessible across the country’s private education sector.
