• Wednesday, Jan 20, 2021
  • Last Update : 12:51 pm

ED: The building blocks for a cashless society

  • Published at 12:10 am November 18th, 2020
Mobile Banking
Bigstock

Indeed, these are the sort of forward-thinking and inclusive initiatives that the people have been longing for

There is little doubt that digitization will continue to play a major role in ensuring that Bangladesh reaches all of its goals, and for that to happen, digitization must be made equitable, reaching all walks of life and not limited to a select few.

To that end, it is extremely encouraging to know that, under a new directive by Bangladesh Bank, micro and small traders can open merchant accounts with banks and mobile financial service (MFS) providers without a trade licence -- paving the way for financial inclusion of a significant number of people who had previously been left out.

Thus, it would now be possible to simply scan a QR code to pay for a cup of tea at a local tea stall or pay a rickshaw puller -- digitization that is not only exciting, but equitable and reaching people it previously excluded.

Indeed, these are the sort of forward-thinking and inclusive initiatives that the people have been longing for, and there can be hope that these are the first building blocks of creating a cashless society.

What is now important is to ensure that all parties involved play their part properly, and that there are no incidents of foul play that may jeopardize the operations or compromise security. Bangladesh Bank has already asked MFS operators to take all measures necessary to ensure security, and these must be taken extremely seriously.

There is genuine hope that the vision of Digital Bangladesh will truly come to fruition, and it is imperative that it happens in an equitable and inclusive manner that benefits all Bangladeshis, regardless of their socioeconomic status and location.

71
Facebook 71
blogger sharing button blogger
buffer sharing button buffer
diaspora sharing button diaspora
digg sharing button digg
douban sharing button douban
email sharing button email
evernote sharing button evernote
flipboard sharing button flipboard
pocket sharing button getpocket
github sharing button github
gmail sharing button gmail
googlebookmarks sharing button googlebookmarks
hackernews sharing button hackernews
instapaper sharing button instapaper
line sharing button line
linkedin sharing button linkedin
livejournal sharing button livejournal
mailru sharing button mailru
medium sharing button medium
meneame sharing button meneame
messenger sharing button messenger
odnoklassniki sharing button odnoklassniki
pinterest sharing button pinterest
print sharing button print
qzone sharing button qzone
reddit sharing button reddit
refind sharing button refind
renren sharing button renren
skype sharing button skype
snapchat sharing button snapchat
surfingbird sharing button surfingbird
telegram sharing button telegram
tumblr sharing button tumblr
twitter sharing button twitter
vk sharing button vk
wechat sharing button wechat
weibo sharing button weibo
whatsapp sharing button whatsapp
wordpress sharing button wordpress
xing sharing button xing
yahoomail sharing button yahoomail