Digital transactions can curb corruption: Khosru

Finance and Planning Minister Amir Khosru Mahmud Chowdhury stated that expanding digital and cashless services is vital to curbing corruption, improving tax collection, and boosting economic transparency.

“The less people have to visit government offices, the less room there is for corruption,” he said, adding that digital services save citizens time while enhancing overall service quality.

Speaking as the chief guest at the launch of the Trust Bank-powered Dynamic Bangla QR, a payment service aimed at simplifying Universal Pension Scheme contributions on Tuesday, the minister emphasised reducing physical interactions in economic transactions. 

Cash-heavy economies foster opportunities for graft, whereas digital payments create audit trails that strengthen tax enforcement and inform future policymaking, he noted.

Khosru added that transitioning to a robust digital economy remains a core pillar of the BNP’s policy agenda.
Interoperability crucial for Bangla QR

Khosru said Bangla QR must become more effective and widely accessible, with interoperability among banks and mobile financial services (MFS) essential for wider adoption.“Without interoperability among different banks and mobile financial services, it will not be possible to ensure the full use of Bangla QR,” he said.

He also highlighted the potential of QR-based transactions to improve tax administration. 

Referring to complaints from businesses, he said some businesses and taxpayers currently face repeated tax-related pressure.

An effective trace-and-track system could make tax administration more transparent and reduce undue pressure on taxpayers, he said, adding that QR-based transactions could help create such a system.
Automation needed to cut business costs

Khosru said greater automation would reduce the cost of doing business and improve Bangladesh’s competitiveness in domestic and international markets.

He called for digital technology and automation across the economy, including at ports and airports.

“The more we can automate various areas, including ports and airports, the more we can reduce costs,” he said.

He also stressed the need for interoperability among systems so they can exchange information and operate through integrated digital platforms.

Businesspeople frequently complain of harassment, delays and difficulties in obtaining services, he said, adding that interoperable digital systems could help eliminate such problems and make doing business easier.

Bangladesh has no alternative to automation and artificial intelligence (AI) if it wants to remain competitive in the future economy, Khosru said.

The country must develop the capacity to apply AI across businesses and economic sectors, he said, warning that Bangladesh would struggle to compete globally without such capacity.

Dynamic Bangla QR launched

Trust Bank Vice Chairman Maj Gen Mohd Hossain Al Morshed said the launch marked an important milestone in Bangladesh’s progress toward financial inclusion and digital financial services.

People’s willingness to use financial services largely depends on whether they are simple, fast and secure, he said. For small business owners, self-employed people and young entrepreneurs, a complicated monthly pension contribution process can discourage regular participation.

“This is where the importance of Dynamic Bangla QR lies,” he said, expressing hope that the initiative would make pension services easier and more accessible across Bangladesh.

Trust Bank Managing Director and Chief Executive Officer Ahsan Zaman Chowdhury said the bank would support the government’s initiative to establish a cashless transaction system with dedication, integrity and sincerity.

Bangladesh Bank Deputy Governor Md Kabir Ahmed said Bangla QR transactions have been increasing significantly across the country. 

Customers of banks, MFS providers and merchant payment service providers can currently scan Bangla QR codes through mobile applications and make payments at around 3.26 million merchants nationwide.

National Pension Authority Executive Chairman Md Suratujjaman said pension schemes are already operating in many countries and Bangladesh is essentially adopting the South Korean model.

Citing United Nations projections, he said Bangladesh’s average life expectancy was around 73 years in 2025 and is expected to reach approximately 80 years by 2050. 

As the elderly population grows, the pension system has been introduced to help ensure social protection for people after age 60.

He also said Bangladesh is considering introducing a Shariah-based pension scheme.