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Eastern Bank PLC (EBL) and bKash Limited are set to launch Bangladesh’s first bank-led digital fixed deposit service through a mobile financial services platform, enabling customers to open and manage fixed deposits without visiting a bank branch.
The new service will allow bKash users to create and operate EBL fixed deposits directly through the bKash app, making formal savings products more convenient and accessible, according to a press release.
The initiative was announced at a ceremony held at EBL’s head office in Dhaka on Thursday. EBL Deputy Managing Director and Head of Retail and SME Banking M Khorshed Anowar and bKash Chief Commercial Officer Ali Ahmmed jointly unveiled the service.
The two organisations said the partnership would expand access to secure savings facilities, especially for people in semi-urban and rural areas, by combining traditional banking services with digital technology.
M Khorshed Anowar said the launch followed the successful introduction of EBL’s Deposit Pension Scheme (DPS) on the bKash platform.
“After the successful launch of EBL DPS on the bKash app, we took the initiative to become the first bank to offer fixed deposits through the platform,” he said.
He added that customers across Bangladesh would now be able to open EBL fixed deposits at their convenience, while EBL would continue expanding its digital savings solutions as part of its efforts to promote inclusive banking.
Ali Ahmmed said the growing partnership between banks and bKash was creating new opportunities to deliver accessible and customer-focused financial services nationwide.
“By leveraging bKash’s extensive customer base and digital infrastructure, banks can extend their services to millions of people with greater convenience,” he said.
He noted that the collaboration would contribute to developing innovative financial products that support financial inclusion and empower customers.
EBL Head of Brand, Marketing and Communications Ziaul Karim and senior officials from both organisations attended the event.