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The Rise Of Mobile Banking In Bangladesh

2015 was a big year for mobile banking in Bangladesh. While bKash continues to dominate the sector, we have seen a couple of new players enter the market that further accelerated the seemingly unstoppable rise of mobile banking.

According to the Bangladesh Bank data, the industry saw BDT 157,773.31 crore in transactions through mobile phones in 2015 which was 53% up from the previous year.

There are about 3.19 crore mobile banking accounts of which only 1.25 crore are active users and this figure will increase in the coming days. Due to its convenience and service, increasing number of people are adopting the service and it will only rise in coming years.

Source: Bangladesh Bank

Mohammad Ruhul Kader is a Dhaka-based entrepreneur and writer. He founded Future Startup, a digital publication covering the startup and technology scene in Dhaka with an ambition to transform Bangladesh through entrepreneurship and innovation. He writes about internet business, strategy, technology, and society. He is the author of Rethinking Failure. His writings have been published in almost all major national dailies in Bangladesh including DT, FE, etc. Prior to FS, he worked for a local conglomerate where he helped start a social enterprise. Ruhul is a 2022 winner of Emergent Ventures, a fellowship and grant program from the Mercatus Center at George Mason University. He can be reached at [email protected]

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