Business · Bangladesh Bureau
bKash, Robi secure preliminary nod for digital banking licences
Bangladesh's central bank has granted initial approval to four entities, including mobile money operator bKash and telecom firm Robi, to establish digital banks. The move represents a significant expansion of the country's digital financial services sector.
LSN Bangladesh ·
The Bangladesh Bank has cleared the way for bKash, Robi Axiata Limited, and two other entities to proceed with establishing digital banking operations in the country. The initial approval marks a critical milestone in the regulatory process, allowing the applicants to move toward obtaining final licensing.
Digital banks represent a new category of financial institution designed to operate primarily through digital channels, offering deposit and lending services without traditional brick-and-mortar branch networks. The approval of these entities reflects Bangladesh's broader push to modernize its financial sector and extend banking services to underbanked populations.
bKash, which has emerged as a leading player in mobile financial services with millions of users, is well-positioned to leverage its existing customer base and infrastructure. Robi's involvement brings telecommunications expertise and established mobile penetration across the country. The approval of multiple entities is expected to foster competition and innovation within the digital banking space.
The central bank's decision follows growing international recognition of digital banking as a mechanism to promote financial inclusion and economic development. Bangladesh has previously liberalized its financial sector regulations to attract new fintech players, and this latest approval continues that trajectory. Successful implementation of digital banking services could significantly alter the landscape of financial services delivery in Bangladesh.