Central bank forms Tk100cr fund for Bangla QR

The Bangladesh Bank has created a Tk100-crore fund to encourage small merchants to adopt the country’s interoperable “Bangla QR” payment system, Governor Md Mostaqur Rahman announced Saturday.

Speaking at a workshop in Chattogram, the governor noted that the fund could be expanded if demand grows, adding that accelerating digital payment adoption is vital for tackling corruption and curbing expenses.

“Digital payments can help stop extortion and eliminate the risk of counterfeit notes,” he said, highlighting that the nation spends roughly Tk20,000 crore annually to manage physical currency.

The event, held at a hotel in Chattogram, was jointly organised by Bangladesh Bank and the International Finance Corporation (IFC) under the “Cashless Digital Bangladesh” initiative.

According to a central bank press release, the governor said Bangladesh currently records around one crore digital transactions a month. Bangladesh Bank aims to increase the volume to one crore transactions a day by the end of the current fiscal year.

Bangladesh is drawing on the experiences of neighbouring countries to expand digital payments, Mostaqur said.

However, limited smartphone use remains a major obstacle. Around 60 million people still use feature phones, leaving them without access to Android-based digital payment services and, in many cases, internet connectivity.

Mostaqur Rahman said digital payments would also improve transparency in business finances and reduce risks faced by small traders who depend on employees to handle cash.

Bangladesh Bank Deputy Governor Md Kabir Ahmed said an inclusive digital payment system is essential for building a financially inclusive society.

“Bangla QR will play an important role in this regard,” he said. 

Participants were cautioned against fraudulent calls and SMS messages from individuals impersonating banks, mobile financial service providers or government agencies.

They were also warned about phishing, hacking, malware, fake customer-care services and fraudulent websites.

Merchants were advised not to share personal information, PINs or one-time passwords (OTPs) with anyone and not to click on unfamiliar or suspicious links.

Around 120 Bangla QR-using merchants, including at least 20 women entrepreneurs, participated in the workshop.

Bangladesh Bank data show that the number of Bangla QR transactions rose from 7.23 lakh, worth Tk212.05 crore, in January 2026 to 62.55 lakh, worth Tk1,475.95 crore, in July, representing an 8.6-fold increase in transaction volume and nearly sevenfold growth in value over six months.

The number of Bangla QR merchants also increased substantially, rising from 13.53 lakh in May to 16.85 lakh in June and 24.25 lakh in July.

This represents around 79% growth over the three-month period and nearly 93% growth over 10 months.
Bangla QR has been made mandatory for merchant licences issued by city corporations and municipalities. Institutions have also been instructed to replace existing QR codes with Bangla QR by 2026.

Bangladesh Bank has additionally introduced instant settlement of Bangla QR transactions into merchants’ accounts.