The government led-by Prime Minister Sheikh Hasina has been patronising technology sector through exempting 27 digital services from tax since 2011 to drive the nation towards a smart economy.

The government's 13-year tax exemption for these digital services is set to expire on June 30. However, the tax exemption period should be extended up to 2041. Technology sector can be a ‘golden goose’ for supporting national reserve with foreign currencies amid dollar crunch.  Even if this sector does not give revenue now, it will provide employment, give dollars, and give the gift of a prosperous Bangladesh in the future.

Many products are exported from Bangladesh to foreign countries. However, the software sector is the most profitable. Once a shirt is made, it cannot be sold again and again, but once a software is made, it can be sold again and again.

Apple has become a 3-trillion dollar company in the United States because it got the opportunity to do business in the information technology sector in its own country.

Even in Bangladesh, if tech companies are given a tax holiday until 2041, there will be no place to keep foreign reserves in this country. Recently, tech companies have started to step up. And if you stand a little better, you will start giving returns to Bangladesh. This sector will not be able to stand up again if tax breaks are not given at such a time.

Our portfolio, Flora Systems has developed “Flora Bank” the most popular core banking application software in the banking sector of Bangladesh. This software is being used in 2 thousand 255 branches of 13 banks including Bangladesh Krishi Bank, Jamuna Bank, Mutual Trust Bank, National Credit and Karmas Bank, Midland Bank, The Trust Bank, ShimantoBank, South Bangla Agriculture and Commerce Bank and Janata Bank. Many people think that the software is foreign while the solution is developed in Bangladesh.

Temenos, a Switzerland-based software company, has been providing banking software services to 145 countries around the world. Bangladesh is also getting services from the world's largest banking software company. However, many banks of this country have put their trust in our company after removing the world's number one CBS (Core Banking Software) company.

As a result, you don't have to pay large sums of money abroad. Many other software companies like my company in the global market are providing services in this way. Bringing money to the country by selling software abroad. No matter how we technology sector works, we are playing an active role in enriching the country's reserves.

Bangladesh Association of Software and Information Services (BASIS), apex trade body in technology sector in the country, has brought about two and a half thousand digital entrepreneurs under single platform.

Those who have taken themselves to unique heights by getting tax exemptions. I am one of the few entrepreneurs who founded this organization to pioneer the business of software services sector. I served BASIS as finance secretary in 2002 and general secretary in 2004.

Under my leadership, the country's first software incubator was established in the BDBL building of BASIS. I was the convener of the country's first BASIS Softexpo. I have led Bangladesh in software and IT services export exhibition at COMDEXFALL held in USA four times.

I tried to play frontend role in drafting the country's first National ICT Policy with FBCCI. To take the organization a step further, I am participating in the election of the Executive Committee of BASIS 2024-26 on behalf of 'Team Success'. I believe I can play a big role in the development of BASIS members in the future.

If we win the elections, we want to take appropriate measures to make the BASIS constitution timely and forward-looking as soon as possible. One of the most urgent demands of the members is to work to extend the tax exemption period. Before the expiry of the term in June 2024, we want to address the matter by discussing with the concerned authorities, especially by meeting directly with Prime Minister Sheikh Hasina.

We want to get this facility till 2041 with the aim of building Smart Bangladesh. In today's increasingly competitive world, none of us can go it alone. We are keen to work with other countries to deal with global politics while keeping up with the information technology community of other countries, at least in Asia.

Financial solvency is the first step to success. Financial support is needed to bring about any success overall. We want to work with the financial institutions of the country keeping this goal in mind.

We, the Team Success will work on changing policies, implementing plans, and above all getting financial incentives or assistance in keeping with time to make getting loans easy and affordable for tech companies.

By formulating policies, we will endeavor to both request and provide an opportunity for digital banks to offer low interest loans to potential IT sectors. In our proposed policy, a portion of Digital Bank's total lending will be earmarked for the information technology industry.

We would like to discuss with Dhaka North Mayor Atiqul Islam and RAJUK authorities to build a permanent address for BASIS members as soon as possible. We also want to ensure housing for all those associated with our industry. Team Success started working on this goal several months ago. If I win the election, I will implement these on the highest priority.

Only three women are participating in three panels in this year's BASIS election. Among them two women members are selected from our panel. It seems to me that sometimes these two women are more qualified than the boys. I dream that women will lead the core management of BASIS. We will led the industry together!
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Mustafa Rafiqul Islam Duke is Managing
Director at Flora Telecom Limited