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Staff Correspondent: Bangladesh Bank Governor Md Mostakur Rahman on Monday said the nationwide use of Bangla QR would make digital transactions easier, faster and more secure, while reducing dependence on cash.
He said the unified QR code system would minimise the need to carry cash and help reduce problems associated with counterfeit and damaged banknotes, making the country’s digital payment ecosystem more efficient.
The governor made the remarks while addressing the prize-giving ceremony of the “Bangla QR Reels Making Competition” at the Bangladesh Bank headquarters in Dhaka.
He said the central bank had made the use of Bangla QR mandatory from July 1, allowing customers to make payments through a single, interoperable QR code regardless of the bank or mobile financial service (MFS) provider.
“The unified QR system will not only speed up transactions but also enhance their security,” he said.
The governor noted that countries around the world are rapidly adopting advanced digital payment technologies, adding that Bangladesh is moving in the same direction through the introduction of Bangla QR. He expressed hope that more modern technologies would be incorporated into the country’s payment system in the future.
Mostakur Rahman also said Bangladesh Bank had instructed all banks and mobile financial service providers to take the necessary measures to ensure the availability and effective use of Bangla QR for their customers.
He said successful implementation of the initiative would further expand digital financial transactions and reduce the economy’s reliance on cash.
According to Bangladesh Bank, the Bangla QR Reels Making Competition was organised to raise public awareness and encourage wider adoption of the unified QR payment system. The governor presented awards to the competition’s 10 winners at the ceremony.
