Dhaka, Nov. 24 -- Bangladesh Bank Governor Ahsan H Mansur has said all public and private institutions could be brought under a fully interoperable digital transaction system by July 2027.

It will open the door to seamless transfers across banks, mobile financial services, financial institutions and insurance companies, he said.

He outlined the prospect on Monday at a contract-signing event in a Dhaka hotel for a new online transaction platform.

"It may be possible by July 2027," he said, adding that once live, all institutions would be integrated into a common interoperability framework.

He noted that instant online transactions would sharply reduce the need for cash. To support this shift, an Inclusive Instant Payment System (IIPS) ...