Bangladesh Bank aims to transition the country into a fully cashless society by 2031, with Prime Minister’s directives targeting 30% cashless transactions by 2025. At a workshop organized by BASIS, Md Mezbaul Haque, an executive director at Bangladesh Bank, emphasized the need for banks to actively promote cashless payment methods.
Haque criticized banks for not effectively marketing their apps and urged them to train staff and customers in making cashless payments. He warned that banks failing to promote cashless transactions might face costlier services. Haque also urged greater collaboration between banks and Fintech companies and emphasized the importance of coordination between Bangladesh Bank and the National Board of Revenue (NBR) to eliminate barriers to digital payments.
Participants at the workshop suggested simplifying existing apps, ensuring seamless fund transfers, and enhancing user-friendliness to encourage greater adoption of digital payments.
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