Building a cashless society

The authorities would do well to take this opportunity and continue to build viable systems for card-based transactions

While Digital Bangladesh is not yet a reality for the entirety of the country, it is undeniable that we have made notable progress in terms of digitizing numerous aspects of our operations over the last few years.

This is most evident, perhaps, in our drastic move to digital financial transactions -- owing mainly to the pandemic, which compelled digital banking to take precedence.

The card-based foreign transactions hit a record Tk397 crore in June this year, as a significant portion of the population travelling abroad opted for card-based transactions.

This is not only the smartest solution to counter the ongoing dollar crisis, but is also a solid step towards becoming a cashless society.

While a step like this does not warrant a permanent shift towards digital transactions, it certainly opens doors for the authorities to explore and establish better policies to make it a sustainable practice.

Going paper-free can ensure a faster, more secure, and convenient means of monetary transactions, while also facilitating more international transactions.

If we want to reach our development goals as a nation, it is vital that we keep pace with the rest of the world in adopting and seamlessly implementing a more digitized way of life -- and formulating the plans to build a cashless society is certainly a good place to start.

To that end, the authorities would do well to take this opportunity and continue to build viable systems for card-based transactions to be the top choice for all financial dealings.