VEON and its subsidiary Banglalink have reaffirmed their intent to secure a Digital Bank licence in Bangladesh. In a letter sent to Bangladesh Bank Governor Dr Ahsan H Mansur on 14 September 2025, the companies emphasised their commitment to advancing the country’s digital economy and financial inclusion.
“We aim to play a key role in supporting financial inclusion and the growth of Bangladesh’s digital economy,” Banglalink, the third-largest mobile operator in Bangladesh, told TIMES of Bangladesh.
VEON, a leading global digital operator listed on NASDAQ with $4.0 billion in revenue and $1.7 billion EBITDA in 2024, highlighted its success in digital financial services, including ventures like Simply! in Kazakhstan, Beepul in Uzbekistan, and JazzCash in Pakistan.
JazzCash serves over 40 million customers in Pakistan, processes transactions equivalent to approximately 10% of the country’s GDP annually, and issues around 200,000 online loans a day.
The companies believe their expertise in customer and merchant enablement, risk management, financial literacy, cybersecurity, and fraud prevention can help Bangladesh transition to a cashless, digitally-driven economy.
In their letter, VEON and Banglalink sought clarification on regulatory matters, including foreign shareholding and governance structures, and requested flexibility to allow VEON to hold 51% or more stake in the proposed digital bank.
They also inquired whether a shareholder-level MoU at the application stage would suffice, with a binding agreement to follow post-approval.
