Ahsan H Mansur, the Governor of Bangladesh Bank, announced that the mobile banking service ‘cash’ will be made available to independent investors, as the post office lacks the capacity to manage cash operations. This decision has been made at the highest level, and efforts are underway to attract investments. Notifications will be issued within a week, and new investors are expected to be onboarded within three to four months.

He made these remarks while serving as the chief guest at the ‘Cashless Bangladesh Summit-2021’, which was organized by the Institute of Cost Management Accountants of Bangladesh (ICMAB) at Hotel Sonargaon on Wednesday, August 28th.

ICMAB President Mahtab Uddin Ahmed stated that Bangladesh is currently at a pivotal moment in its financial transformation. The transition to a cashless economy is not a distant goal but an immediate necessity. This summit brings together policymakers and implementing partners on a single platform, which will be crucial in shaping an effective strategy.

Syed Mohammad Kamal, Country Manager of MasterCard Bangladesh, expressed pride in co-hosting the Cashless Bangladesh Summit with ICMAB. He emphasized that a cashless society fosters innovation, enhances efficiency, and promotes financial inclusion across all societal levels.

During the opening discussion, M Masroor Riaz, Chairman and CEO of Policy Exchange Bangladesh, delivered the keynote presentation on ‘The role of Fintech in establishing a cashless economy’.

The panel discussion included the Director of the Payment Systems Department of Bangladesh Bank, Sharafat Ullah Khan, Managing Director and CEO of Mutual Trust Bank PLC Syed Mahbubur Rahman, Chief Commercial Officer of Bikash Limited Ali Ahmed, MasterCard Bangladesh Director Zakia Sultana, and Founder of Services Platform Adnan Halim.The speakers discussed the role of Fintec in increasing inclusive growth, increasing cooperation and building a continuous cashless ecosystem.

In the last episode of the summit, CPD honorable fellow Dr. Devpriya Bhattacharya presented the keynote paper titled ‘Regulatory Reforms and Policy Roadmag for a Cashless Bangladesh’. This panel took part in the discussion. Md. Khairuzzaman Majumder, Secretary, Finance Department, Ministry of Finance; Md. Abdur Rahman Khan, Secretary, Internal Resources Department (IRD) and Chairman, National Board of Revenue (NBR); Dr. Md. Habibur Rahman, Deputy-Governor, Bangladesh Bank; Masorur Arefin, Managing Director and CEO (MD and CEO), The City Bank PLC; Anita Ghazi Rahman, Founder and Managing Partner, The Legal Circle.

During the discussion, the speakers said that reforms, regulatory sandboxes and helpful tax structures are essential to balance the innovation and consumer protection. These initiatives will strengthen the digital finance ecosystem of Bangladesh and take the country to the country of regional leadership in cashless innovation.