We are disheartened but unsurprised to hear of the continued increase of demand for physical banks.
Despite Bangladesh's emphasis over the past decade and a half on digitization, and its efforts to build a digital, cashless society, it is evident that when it comes to digitization and what we wish to achieve from it, much work remains to be done for that ambition to translate to reality.
Digitization has certainly been integral for the progress of Bangladesh; there is no denying its role and adopting the Digital Bangladesh has certainly brought dividends at an unprecedented pace. However, digitization has also undoubtedly given rise to the digital divide, with many in Bangladesh not up to speed or just not comfortable with financial transactions digitally.
Despite initiatives by government projects such as a2i to bridge the gap between the rural and urban populations, we have many miles to go before we can truly say that all of Bangladesh is truly Digital Bangladesh.
Ultimately, the issue once again falls on building an equitable nation; rapid digitization has its merits and assists the country in leapfrogging and hitting many milestones at a rapid pace but it does not ensure that each and every citizen is benefitting.
Moving forward, the next two decades are arguably Bangladesh's most important, as it intends to first graduate to middle income status and then beat the middle income trap to become a smart, prosperous nation, together with also functioning as a cashless society.
Therefore, it is imperative that we prioritize building an equitable nation, not just a developed one. We urge the authorities concerned to digitize and introduce new technology by keeping in mind the entirety of the country, while simultaneously ensuring that those most marginalized and deprived are also included. The dream of a cashless society may be far away, but there is still time for us to reach there.