Trust Bank’s savings services have been integrated into the bKash app, with loans and pay-later services set to be added soon.
The two organisations announced the partnership at an event titled “Expanding Access, Empowering Possibilities” at a hotel in Dhaka. Major General Mohd Hossain Al Morshed, Vice-Chairman of Trust Bank and Adjutant General of the Bangladesh Army, attended as the chief guest. Md Sirajul Islam and Arief Hossain Khan, Executive Directors of Bangladesh Bank, were present as special guests.
Addressing the event, Major General Morshed said, “Although technology has changed the nature of financial transactions, it still remains difficult for many, especially for small entrepreneurs and people with limited income, to obtain financial assistance when needed. Keeping this reality in mind, we are announcing this joint initiative today.”
Ahsan Zaman Chowdhury, Managing Director and CEO of Trust Bank, said, “Agents or small entrepreneurs will now be able to access Trust Bank loans directly from the bKash app when needed. Additionally, services like DPS, FDR, and pay-later will make customer transactions easier.”
Kamal Quadir, Founder and CEO of bKash, said, “Technology is allowing us to build right partnerships. As a result, anyone can now open an FDR of even Tk 10,000. This kind of technology will help eliminate various barriers and deliver creative, compliant, and appropriate financial services to people across the line.”
Special guests Md Sirajul Islam and Arief Hossain Khan of Bangladesh Bank praised the initiative, noting that bKash’s advancement has accelerated financial inclusion and that such partnerships will help deliver services to marginalised people and promote inclusive development.
Currently, over 85 million bKash users can access banking services like savings and loans from Trust Bank and five other banks and one financial institution. bKash’s digital savings service commenced in 2021 with the monthly DPS of IDLC Finance, subsequently adding Dhaka Bank, Mutual Trust Bank, City Bank, BRAC Bank, and Eastern Bank.
