Bangladesh Bank Governor Dr Ahsan H Mansur on Tuesday said that Bangladesh has undergone a revolutionary transformation in its payment system, projecting that mobile financial service transactions will exceed Tk25 lakh crore by 2025.
Speaking at a programme titled "Revolution of Payment System: Beginning of a New Era," organized by the Payment System Department (PSD) of Bangladesh Bank at a city hotel on Tuesday, Dr Mansur emphasized the rapid growth of digital transactions.
He noted that mobile financial services currently facilitate transactions amounting to Tk17.5 lakh crore annually.
This figure is expected to surpass Tk25 lakh crore this year—more than three times the size of the national budget, he added.
“This is a remarkable achievement for Bangladesh’s financial sector. The introduction of the Real-Time Gross Settlement (RTGS) system has been a milestone and a matter of pride,” he said.
Introduced in 2015, RTGS enables the electronic settlement of funds in real time, allowing instant transactions between bank accounts without any waiting period.
Dr Mansur highlighted its growing importance not only for institutional banking but also for personal transactions.
“Our data shows that electronic transfers have surged from 60 million to 260 million—an almost fourfold increase. Interbank Fund Transfers (IBFT) have also grown significantly, rising from a negligible amount to 40 million transactions in just five years. This marks a major leap in our digital financial landscape.”
Discussing the significance of RTGS, he added: “This system has played a vital role in stimulating economic activity. The upgrades introduced today were essential given the increasing transaction volume. Looking ahead, further advancements will be necessary to keep pace with this rapid expansion.”
