Written by The Banking Post
Bangladesh’s central bank has instructed all scheduled banks to roll out Bangla QR-based payment apps by June this year, aiming to accelerate cashless transactions and enhance revenue collection.
Speaking at a meeting with electronic media business editors at Bangladesh Bank on Wednesday, Governor Mostakur Rahman said the directive is part of a broader push to modernise the payment ecosystem.
He noted that governance in the banking sector has long been hindered by political influence. “Such interference will no longer be tolerated,” he said, signalling a stricter regulatory stance going forward.
The governor also instructed banks to strengthen due diligence during project approvals to curb the rise in non-performing loans (NPLs), a persistent challenge for the sector.
Highlighting the benefits of the national QR system, he said wider adoption of Bangla QR would expand digital transactions and positively impact government revenue collection.
Approved by the central bank, Bangla QR is the country’s national QR standard that enables customers to make payments by scanning codes through mobile banking apps. The contactless system eliminates the need for physical cash, offering faster, safer, and more secure transactions.
