Bangladesh Bank, with support from the Gates Foundation and working with PATH, is implementing an Inclusive Instant Payment System (IIPS) to enable secure, real-time, and low-cost digital transactions across financial service providers in Bangladesh. The IIPS, designed to facilitate seamless interoperability between banks, mobile financial services providers, and other licensed payment institutions, will form a core component of the country’s digital financial infrastructure. Once operational, the IIPS will enable instant fund transfers between participants, reduce settlement risk, and lower transaction costs for end users, supporting Bangladesh Bank’s broader mandate to promote financial inclusion and digital innovation in the payment ecosystem.
The primary objective of this engagement is to design, develop, deploy, and transition a fully functional, secure, and scalable IIPS for Bangladesh Bank, based on an open-source platform.
Request for proposal number: 2026-057
For: System Integrator for Bangladesh Inclusive Instant Payment System
1. Request for proposal schedule
|
Activity
|
Date and time
|
|
Request for proposal (RFP) released
|
June 9, 2026
|
|
Confirmation of interest in submitting a proposal
|
June 15, 2026
|
|
Deadline for fact-finding questions
|
June 19, 2026
|
|
PATH to respond to fact-finding questions
|
June 24, 2026
|
|
Deadline for submission of proposal in response to the RFP
|
July 10, 2026
|
|
Interview (Optional)
|
As needed
|
|
Award decision (to be followed by contract negotiations)
|
July 24, 2026
|
Note: PATH reserves the right to modify dates at its discretion. Any changes will be communicated to those who confirmed their intent to submit a proposal.
2. PATH statement of business
PATH is a global nonprofit dedicated to achieving health equity. With more than 40 years of experience forging multisector partnerships, and with expertise in science, economics, technology, advocacy, and dozens of other specialties, PATH develops and scales up innovative solutions to the world’s most pressing health challenges. Visit
www.path.org to learn more.
3. Contracting requirements
- The contracting authority shall be PATH or one of its affiliates, either directly or on behalf of operations countries or programs.
- Commercial contracting terms and conditions will be negotiated with the successful supplier at the end of the selection process.
- By submitting a proposal, the supplier confirms their agreement to abide by the request for proposal (RFP) terms and PATH policies, including the PATH Code of Ethics and general practices promoting sustainability, fair trading, health and safety, records management, anti-fraud and corruption, and environmental responsibility.
- The estimated duration of the contract is 5 years.
4. Solicitation terms and conditions
- Notice of nonbinding solicitation: PATH reserves the right to reject any or all bids received in response to this solicitation and is not obligated to accept any proposal.
- Confidentiality: Suppliers must treat all information provided by PATH as part of this solicitation as confidential. Unauthorized disclosure of such information may result in PATH seeking appropriate remedies under applicable law.
- Conflict of interest disclosure: Suppliers bidding on PATH business (herein referenced as “bidders”) must disclose any actual or potential conflicts of interest to the contact(s) listed in the RFP. Conflicts of interest may exist if a personal relationship with a PATH staff member constitutes a significant financial interest, a board membership, other employment, or ownership or rights in intellectual property that conflict with the supplier’s obligations to PATH. Both suppliers and PATH are safeguarded when actual or perceived conflicts of interest are disclosed. When necessary, PATH will develop a management plan to mitigate potential risks associated with disclosed conflicts of interest.
- Acceptance: A bidder’s submission of a proposal constitutes acceptance of all terms and conditions set forth in the RFP. However, PATH’s acceptance of a proposal does not imply acceptance of its terms and conditions. PATH reserves the right to negotiate the final terms and conditions, as well as the substance of the RFP finalists’ proposals. Additionally, PATH may choose to accept partial components of a proposal if appropriate.
- Right to final negotiations: PATH reserves the right to negotiate the final costs and scope of work and to limit or include third parties in such negotiations at its sole discretion.
- Third-party limitations: PATH does not represent, warrant, or act as an agent for any third party as a result of this solicitation. This solicitation does not authorize any third party to bind or commit PATH in any way without express written consent.
- Proposal validity: Proposals submitted under this RFP must remain valid for at least 90 days from the submission deadline. The validity period must also be explicitly stated in the proposal.
- Limitation of liability: The terms and conditions outlined in this RFP do not exclude or limit the liability of PATH or the supplier in cases of fraud or other circumstances that result in liability under applicable law.
- Tender costs and liability: Bidders are responsible for obtaining all necessary information to prepare their proposal and for covering all costs and expenses incurred during the preparation process. Subject to the “Limitation of liability” section (Section 4.8), bidders acknowledge that by participating in this RFP—including the submission of their proposal—they are not entitled to claim from PATH any costs, expenses, or liabilities incurred during the tender process, regardless of the outcome of their proposal.
- PATH’s variation or termination rights: PATH reserves the right to modify or terminate this RFP process with written notice to all suppliers who have submitted proposals. The solicitation process is intended to proceed in accordance with the provisions outlined in this RFP. However, PATH reserves the right to terminate, amend, or modify the process, including time scales or deadlines, with notice to all suppliers who have submitted proposals. Subject to section 4.8, “Limitation of liability,” PATH shall not be held liable for any losses, costs, or expenses resulting from its termination, amendment, or modification to this RFP.
- Joint venture, consortium, or subcontractors: The lead supplier (prime contractor) submitting a proposal in response to this RFP assumes full responsibility for ensuring compliance with RFP requirements among all members of the joint venture (JV) or consortium, including their advisers, subcontractors, and staff.
- Payment and invoicing: PATH will process correctly addressed and undisputed invoices within 30 days. Suppliers must ensure that comparable payment terms apply to their downstream parties. Advance payment is not preferred. If an advance payment is proposed and deviates from industry- or country-standard practices, it must be clearly outlined in the financial proposal submitted to PATH.
5. Instructions for submission
5.1 PATH contacts: All communications regarding this solicitation must be directed to the contacts listed below. Contacting third parties involved in the project, the review panel, or any other party will be considered a conflict of interest and may result in disqualification of the proposal. All required documents must be submitted to the listed contacts by the submission deadline:
Technical/program contact: Vrunda Rathod, vrathod@path.org
Procurement contact: Mr. Jasvinder Singh jsingh@path.org
The subject line of all emails regarding the proposal must read: RFP #2026-057 [Your Company Name].
5.2 Confirmation of interest: Send a statement acknowledging receipt of this solicitation and your intent to respond (or not) no later than the date specified in the schedule in Section 1. Send the confirmation to the contacts listed in Section 5.1 above.
5.3 Proposal technical content: Bidders are advised to provide only the information required. Proposals must be clear, concise, unambiguous, and directly address the stated requirements.
5.4 Selection of shortlist: PATH reserves the right to select a shortlist from the bids received. PATH may also interview and discuss specific details with short-listed candidates.
5.5 Deliberate alteration of a PATH requirement as part of your proposal will invalidate the proposal; and for evaluation purposes, the proposal may be deemed to be unresponsive.
For detailed information, please check the complete version of the RFP attached below.