Bangladesh’s cashless transition will depend on whether people can trust, understand and afford digital financial services, not just on the availability of payment technology, financial sector leaders stressed at a discussion organised by the Institute of Cost and Management Accountants of Bangladesh (ICMAB).
The discussion on 3 September examined how digital payment systems such as Bangla QR, mobile financial services and interoperable payment infrastructure can expand access to formal finance, particularly for underserved communities.
NRBC Bank Managing Director and CEO Md Touhidul Alam Khan presented the keynote paper at ICMAB’s Continuing Professional Development session titled “A Cashless Ecosystem for Financial Inclusion”. He highlighted the potential of digital payment platforms to improve transparency, accountability and efficiency in financial transactions.
He emphasised that an integrated payment ecosystem could help individuals and businesses participate more easily in the formal economy by reducing barriers to digital transactions.
Bangladesh Bank Governor Md Mostaqur Rahman and World Bank Alternate Executive Director and former National Board of Revenue Chairman Md Abdur Rahman Khan stressed that digital literacy, cybersecurity, affordability and consumer confidence would be critical to expanding cashless services, particularly in rural areas.
Their observations underline a key challenge for Bangladesh’s digital finance drive: ensuring that payment solutions are not only available but also accessible and trusted by users across different segments of society.
The discussion comes as banks, regulators and financial service providers continue to expand digital payment channels in Bangladesh. Greater adoption of cashless transactions could improve financial transparency, encourage formal economic activity and bring more people into the formal financial system.
Alongside the discussion, ICMAB recognised Bangladesh Bank Governor Md Mostaqur Rahman and World Bank Alternate Executive Director Md Abdur Rahman Khan as flag bearers of the cost and management accounting profession for their national and international contributions.
ICMAB President Md Kausar Alam said professional institutions have an important role in strengthening expertise, sharing knowledge and supporting better financial practices.
The programme was attended by ICMAB past presidents, council members, fellow and associate members, and invited guests.
