Tuesday, 5 July, 2022

‘BB to conduct feasibility study on digital currency possibility’

Finance Minister AHM Mustafa Kamal on Thursday said Bangladesh Bank (BB) will conduct a feasibility study on the possibility of introducing Central Bank Digital Currency (CDBC) in Bangladesh.

“As the risky use of virtual currencies such as Crypto Currencies continues to grow worldwide, many central banks around the world are working to launch digital versions of their currencies as an alternative to Crypto Currencies,” he said.

The minister said this while placing the proposed national budget for FY23 at the Jatiya Sangsad in the city, reports BSS.

He said the main purpose of launching CDBC is to facilitate currency in virtual transactions and to encourage startups and e-commerce businesses.

As a result of the time-befitting steps of the present government, the coverage of the internet and e-commerce in the country has increased tremendously, he added.