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In January 2025, the Bangladesh Bank reported financial irregularities amounting to Tk 2,300 crore (approximately USD 210 million) in the operations of Nagad. The central bank alleged unreported transactions, regulatory non-compliance, and possible mismanagement of customer funds, raising serious concerns about transparency and oversight.
Banks operated the services with Bangladesh Bank approval without any separate law for an offshore banking system until the enactment of the Offshore Banking Act, 2024. Enactment of a separate law allowed banks to promote fixed deposit products where banks used to primarily use offshore banking operations by taking foreign loans and lending to ...
bKash started in 2011 as a joint venture between BRAC Bank Limited, Bangladesh, and Money in Motion LLC, United States of America. In April 2013, International Finance Corporation (IFC), a member of the World Bank Group, became an equity partner, in March 2014, Bill & Melinda Gates Foundation became an investor in the company, [10] and in April 2018 Ant Financial, the operators of Alipay (an ...
One of the most recent mobile technological wonders (Shaikh and Karjaluoto, 2015) and one of the most recent financial services sector innovations which has added a pure mobility element to service consumption (Mishra and Bisht, 2013; Oliveira et al., 2014) that in return enabled customers to have a convenient access to different value-added ...
Bangladesh Electronic Fund Transfer Network (BEFTN) is a Bangladeshi electronic fund transfer network between banks within Bangladesh. [1] Its main purpose is to transfer funds between bank accounts. [2] The network can settle debit and credits. Salary, bill, dividend, interest could be paid through the system.
The bank provides products and services in retail banking, corporate finance, SME Banking, women banking, digital banking, asset management, equity brokerage, and security. It has 133 branches. [ 1 ] The bank is a licensee to issue Visa and MasterCard Debit and Credit Cards and it is the sole licensee of American Express Cards in Bangladesh.
The pmoney app is a mobile banking app from Premier Bank Limited that offers a range of services, including: Banking, Bills pay, Fund transfers, Mobile top-up, Service request, Beneficiary management, Locate PBL, Information and links and Mail notification. [28] Premier Bank, Mastercard launch prepaid card for travel agents on September 2023.
Farman R Chowdhury, managing director of One Bank Limited, signed an agreement with the Joint Secretary of Local Government Division, Shamima Nargis, and director of Digital Bangladesh, Md Nazrul Islam Khan, to establish mobile banking at the 4,501 Union Information Service Centres of Bangladesh in 2012. [12]