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Bangladesh Bank Governor Md Mostakur Rahman on Monday said the introduction of Bangla QR would make the country’s digital financial transactions easier, faster and more secure, while reducing dependence on cash.
Speaking as the chief guest at the prize-giving ceremony of the Bangla QR Reels Making Competition at the central bank headquarters, the governor said the unified QR payment system would help minimise the need to carry cash and reduce the inconvenience caused by counterfeit and damaged banknotes.
He said Bangla QR had been made mandatory for all digital payment transactions nationwide from July 1, enabling customers to make payments using a single, interoperable QR code across banks and mobile financial service (MFS) providers.
“The system will not only speed up transactions but also strengthen payment security and improve the efficiency of the country’s digital payment ecosystem,” he said.
The governor noted that digital payment technologies were expanding rapidly around the world and said Bangladesh was keeping pace with global trends through the rollout of Bangla QR. He expressed optimism that more advanced technologies would be integrated into the country’s payment system in the future.
Mostakur Rahman said Bangladesh Bank had instructed all banks and mobile financial service providers to take the necessary steps to ensure the widespread adoption of Bangla QR.
He added that the initiative would expand the use of digital payments and significantly reduce reliance on cash if implemented successfully.
Bangladesh Bank said the Bangla QR Reels Making Competition was organised to raise public awareness and encourage wider adoption of the new payment platform. Ten winners were honoured at the ceremony.
Deputy governors of Bangladesh Bank, the head of the Bangladesh Financial Intelligence Unit (BFIU), executive directors, directors and other senior central bank officials also attended the event.