Compliance, by design.

iPay Systems Ltd. is licensed by Bangladesh Bank as a non-bank Payment Service Provider. The licence governs the range of services we offer, the safeguarding of customer funds in a pooled account, and the channels through which money may flow into and out of iPay wallets.

Our anti-money-laundering programme follows the existing laws of Bangladesh, the rules of Bangladesh Bank, and FATF-aligned guidance. We monitor activity for unusual patterns, apply enhanced due diligence to higher-risk profiles, and escalate suspicious transactions to the Bangladesh Financial Intelligence Unit.

Onboarding combines document collection, biometric verification, and bank-account validation. For business members, we additionally verify trade licence, TIN, VAT registration and beneficial ownership. Higher transaction tiers require enhanced due diligence and ongoing review.

All members and counterparties are screened against domestic and international sanctions lists, including those published by Bangladesh Bank, the United Nations and other major regulators. Screening runs at onboarding, on profile changes, and continuously against transaction flows.

Customer information is collected, stored and processed on servers located in Bangladesh and is protected by firewalls, encryption and access controls. Information is shared with regulators, banks and law-enforcement bodies only when the law requires and only to the extent it requires.

Our internal-control framework covers financial reporting, transaction integrity, IT security and customer-protection controls. Independent external auditors review the books and controls regularly; outcomes are shared with the board, the regulator and material findings are remediated under tracked action plans.