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Bangladesh Bank Governor Md Mostaqur Rahman has said expanding Bangla QR transactions can help curb extortion, counterfeit currency and risks associated with carrying cash.
Speaking at a Bangla QR workshop at Radisson Blu in Chittagong, he said reducing dependence on cash would improve business transparency and strengthen fiscal operations.
The workshop was organised under the “Cashless Digital Bangladesh” project, a joint initiative of Bangladesh Bank and the International Finance Corporation (IFC), with around 120 merchants, including 20 women entrepreneurs, attending.
The governor said Bangladesh currently records around 10 million digital transactions a month, while the central bank aims to increase the figure to 10 million transactions a day within the current fiscal year.
He noted that about 60 million people still use feature phones and therefore remain outside app-based digital financial services. Initiatives are being taken to make affordable Android smartphones available to more consumers, he said.
The governor also said the government spends around Tk 20,000 crore annually on printing currency, a cost that could be reduced by expanding digital payments.
Deputy Governor Dr Md Kabir Ahammad said about 2.4 million merchants are now connected to Bangla QR, generating nearly 200,000 transactions worth around Tk 50 crore every day.
The workshop ended with a question-and-answer session on cross-border transactions and reducing service charges.
