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Dhaka, July 28, 2025 — Mobile financial services (MFS) are playing a transformative role in expanding financial inclusion in Bangladesh, despite nearly 57% of the population remaining outside the formal banking system, according to a new report by the Groupe Spécial Mobile Association (GSMA).

The findings, published in the State of the Industry Report on Mobile Money 2025, highlight Bangladesh’s remarkable progress in adopting digital financial services, with mobile money platforms like bKash emerging as critical enablers of inclusion.

Bangladesh Among Global Mobile Money Leaders

Globally, mobile money providers processed a staggering $4.6 billion in daily transactions in 2024 through 2.1 billion registered accounts. Of this, Bangladesh accounted for 8.61% of the daily transaction volume—amounting to Tk 48.33 billion (approximately $396.17 million) in average daily transactions, according to Bangladesh Bank.

As of December 2024, Bangladesh also held 238.68 million mobile money accounts, comprising 11.36% of all global accounts, significantly outpacing its 2.19% share of the world population.

Rapid Growth in Mobile-Based Financial Services

The GSMA report spotlights Bangladesh’s growing use of mobile money for broader financial services. Notably:

• Digital Lending: The share of users availing loans via mobile money doubled from 7% in 2023 to 14% in 2024. Since launching its digital loan product in 2021, bKash has facilitated over 5.5 million disbursements to around 1 million customers, totalling Tk 28 billion.
• Savings: Customers using mobile platforms to deposit funds into savings accounts also doubled from 7% to 14%. By the end of 2024, over 3.2 million DPS (Deposit Pension Scheme) accounts had been opened through bKash in collaboration with several banks and non-bank financial institutions (NBFIs).
• Insurance: The proportion of users purchasing insurance via mobile platforms rose sharply from 4% in 2023 to 10% in 2024. bKash introduced mobile-based insurance services in 2021, reaching customers even in remote areas.

bKash Bolsters Bangladesh’s Global Fintech Footprint

As the country’s leading MFS provider, bKash plays a pivotal role in positioning Bangladesh on the global mobile money map. The company alone accounts for 3.8% of global mobile money users and 3.5% of agents, despite the country representing just over 2% of the global population.

This strong performance underscores Bangladesh’s capacity for digital innovation and its growing influence in the global mobile finance ecosystem. Analysts say the country’s mobile money landscape serves as a model for scalable financial inclusion, particularly in emerging economies.