Dhaka, Nov. 24 -- Bangladesh Bank has set a target to establish a fully interoperable digital transaction system by July 2027, linking banks, Mobile Financial Services (MFS), insurance firms and other financial institutions, said Governor Dr Ahsan H Mansur.

The Governor made the announcement at a programme titled 'Instant Payment in Bangladesh: Unveiling Inclusion Opportunities' held at a hotel in Dhaka on Monday.

Addressing the current state of digital payments, the governor admitted that Bangladesh Bank's existing interoperable payment system, launched on November 1, has not been successful so far.

"Although the interoperable system has been launched, it has not been successful because many institutions are not conducting transaction...