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Bangladesh digital economy and payment infrastructure

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2026-08-18 05:37 UTC → 2026-08-24 12:14 UTC · added ~~removed~~

Bangladesh is implementing several regulatory and technological initiatives to expand its digital economy and financial infrastructure. Initially, the Bangladesh Bank introduced a framework allowing licensed foreign payment service providers to facilitate cross-border transactions, aiming to support freelancers, exporters, and e-commerce businesses. Following this, the government expanded its digital efforts through the D-STAR program, supported by the World Bank, which focuses on a “One Citizen, One Digital ID, One Digital Wallet” initiative. Additionally, the central bank implemented the Nexus Smart ID platform to enhance authentication and security in digital banking via certificate-based identities. Despite these advancements, the transition toward a cashless society has encountered obstacles. The adoption of the standardized “Bangla QR” service has seen daily transaction volumes fall below Tk1 billion. Industry reports indicate that small business owners are hesitant to adopt these digital payment methods due to concerns regarding the tax system and the potential imposition of turnover taxes. In a recent development to bolster digital capabilities, Nagad, the mobile financial service of the Bangladesh Postal Department, has entered a partnership with Bengal Commercial Bank PLC. The agreement involves Nagad maintaining a Trust Cum Settlement Account with the bank to streamline remittance disbursement, “Add Money” services, and transactions via the National Payment Switch Bangladesh. This collaboration seeks to leverage Nagad’s network to facilitate digital transactions and nano-loans in remote areas.

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