Bangladesh is currently moving towards a cashless society. The pandemic has further increased our reliance on cashless transactions. There is an emerging industry of local fintech companies. We have also noted tremendous interest in the Bangladeshi market from foreign Fintech companies of late. We provide a wide range of services to fintech companies from setting up branch and liaison offices, to incorporating companies to advising them on the legal implications of different products and services and every aspect of the evolving legal and regulatory framework for fintech companies.
AREA OF EXPERTISE
AREA OF EXPERTISE
- Setting up branch and liaison offices for foreign companies
- Formation of fully owned subsidiaries for foreign fintech companies
- Company secretarial services for branch and liaison offices and subsidiaries of foreign fintech companies
- Advise on mobile financial services
- Advice on legal implications of different fintech products and services
- Advice on Payment Systems Regulations
- Advice on Anti-Money Laundering and Terrorist Financing laws
- Advice on contracts between fintech companies and banks
- Advice on credit risk scoring products
- Advise on Bangladesh Bank circulars applicable to fintech companies
- Advise on foreign exchange laws and regulations
Representative Work
- Set up liaison office and obtaining extension of permission of liaison office of leading international payments technology company, Visa
- Formation of fully owned subsidiaries a multinational fintech company, dLocal
- Advised Visa on legal and regulatory framework for mobile financial services
- Advised SSL Wireless, largest payment aggregator in Bangladesh on contracts with participant banks and merchants
- Advised Visa on chargeback requests
- Advised Visa on implications of offering Transaction Underwriting Scores of consumers and merchants in Bangladesh
- Advised Visa on the legal implications of the collaterals given by Visa members to Visa
