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FGD on “Digital Banking for All: Bridging the Financial Inclusion Gap”
Despite the promising potential of digital banking in the current era of information technology, Bangladesh has not been able to fully capitalize this opportunity due to the absence of supportive policies, lack of user trust, inadequate infrastructure, poor coordination among regulatory bodies, and the high cost of necessary devices, speakers expressed this view in unison at the focus group discussion on “Digital Banking for All: Bridging Gap in Financial Inclusion” organized by Dhaka Chamber of Commerce & Industry (DCCI) on September 25, 2025 at DCCI Auditorium. Shish Haider Chowdhury, ndc, Secretary, ICT Division, GoB and Dr. Md. Ezazul Islam, Executive Director, Bangladesh Bank attended the event as the Chief Guest and Special Guest respectively.
In his welcome remarks, DCCI President Taskeen Ahmed said that although Mobile Financial Services (MFS) were introduced in Bangladesh in 2011, only around 54% of the population are currently using this facility. MFS has enabled users to access wide range of financial services more easily. However, due to various challenges such as cyber security risks, lack of consumer protection, and trust deficit, the potential of this sector has not yet been fully realized. He stressed on the need for making digital services more affordable, enhancing financial and digital literacy, and strengthening coordination among banks, fintech companies, and regulatory bodies. Dhaka Chamber President further highlighted that trust and security are intrinsically linked with digital financial services and the relevant authorities should provide top priority in this regard.
Joining the event virtually the Chief Guest Shish Haider Chowdhury, ndc, Secretary, ICT Division, GoB stated that the government, private sector, and academia are working jointly to modernize and expand the scope of digital services in the country. He highlighted that the government has set four priorities—integration, accessibility, interoperability, and scalability to digitalize the banking sector. He further noted that improper registration processes had exposed the data of 50 million citizens to the dark web, stressing the importance of robust data encryption and enhanced monitoring. As the required infrastructure, human resources, and facilities for digital banking already exist, he assured that the government would provide all necessary policy support to implement digital banking for all citizens. The Secretary also highlighted that the government is making concerted efforts to deliver all citizen services through a one-stop service platform, noting that citizens in the capital are already availing 10 such services. He also informed that the government is undertaking initiatives to introduce a Personal Data Protection Ordinance, expected to be finalized within a month.
Dr. Md. Ezazul Islam, Executive Director, Bangladesh Bank said that Bangladesh has made significant progress in financial services such as debit, credit, deposit, insurance, and payment services, and more citizens should be included in this ecosystem. He shared that as of August this year, total money circulation reached BDT 31.5 trillion, of which BDT 22.7 trillion remains outside the banking channel in people’s hands, while the banks hold only BDT 2.9 trillion. He also noted that to date, only 27–28% of financial transactions have been carried out digitally, while more than 70% continue to be processed through traditional, non-digital channels.
In his keynote presentation Sanjid Hossain, Head of Commercial Partnership, Robi Axiata PLC stated that in 2025, the digital banking market in the Asia-Pacific region is valued at USD 4,678.47 million, which is projected to grow to USD 11,238.6 million by 2033. He urged to utilize the lack of trust in conventional banking system an opportunity for the growth of digital financial services. He observed that Bangladesh’s digital banking has the potential to reach USD 30 billion. However, he cautioned that unless a comprehensive cyber security ecosystem is established, the sector may face risks. He stressed the need for stronger central bank monitoring and for expanding access to smartphones and the internet to the users residing in remote areas.
Md. Elius Ziku, Additional Deputy Commissioner, Detective Branch, Dhaka Metropolitan Police (DMP) said that many customers are being victims of fraud through the misuse of digital financial systems. He suggested considering the introduction of a renewal process for mobile banking accounts after opening. He also emphasized that financial service providers must focus more on ensuring customer security. He revealed that financial fraud amounting to 10-20 Crore taka occurs daily so that everyone should remain vigilant and seek help from the law enforcement agencies while carrying large sum of cash.
Arif Khan, CFA, FCMA, Vice Chairman, Shanta Asset Management Ltd. & Former Commissioner, Bangladesh Securities and Exchange Commission noted that although Bangladesh already has 64 commercial banks, initiatives are being taken to introduce digital banks. He pointed out that mismanagement in the financial sector has primarily contributed to rising non-performing loans, while also calling for reforms in financial dispute resolution mechanisms.
Kazi Azizur Rahman, Additional Managing Director & Chief Information Officer, City Bank PLC remarked that around 30–40% of the population still remains outside the banking ecosystem, keeping large sums of cash at home. He observed that a major barrier for financial institutions is the lack of regulatory oversight and necessary policy support. He also pointed out that traditional banks in the country do not yet have a roadmap for digital banking.
Rezwan Ali, Director, Omega Exim Ltd. said that most import-export activities are still conducted through traditional methods, although transitioning these activities into digital systems would facilitate the import-export process. He added that integrating the relevant institutions into blockchain-based systems could ensure greater transparency.
Shahee Mirza, CISSP, Co-Founder & Chief Cyber Operations Officer Beetles Cyber Security Ltd. stressed the need to ensure the security of computers used in agent banking, while also urging financial service providers to adapt continuously to changing realities. He proposed the creation of a unified national cyber security framework.
DCCI Senior Vice President Razeev H Chowdhury, Vice President Md. Salem Sulaiman, members of the board of Directors, and entrepreneurs from relevant sectors were also present during the occasion.
Published on: 2025-09-25