Bangladesh Bank (BB) Governor Ahsan H Mansur. File Photo

DHAKA, Sept 15, 2025 (BSS) - Bangladesh Bank (BB) Governor Dr Ahsan H Mansur today announced that the central bank will develop an interoperable payment system with the support of the Gates Foundation, enabling seamless transactions of money, goods and services anytime, anywhere in the country.

"The interoperable system will allow instant transfers from mobile wallets, bank accounts, non-bank accounts or institutional accounts directly to any other account," he said.

The governor made the remarks while speaking at a discussion titled "Stakeholder Discussion on Interoperable Payment in Bangladesh," organized by the Policy Research Institute (PRI) and the Gates Foundation, at a hotel in the city.

In his speech, the BB chief mentioned that previous attempts to launch such a system in Bangladesh had failed, but noted that this time the initiative, being undertaken with the support of the Gates Foundation through the Mojaloop Foundation, was better positioned for success.

"Similar systems have been tested in countries like Pakistan with highly positive results. Those experiences serve as both inspiration and lessons for us," he added.

He said BB wants a unified national payment system through which person-to-person and institution-to-institution transactions can be completed instantly.

"This will be a game-changer in building a cashless economy," he added.

The governor also highlighted the enormous cost of maintaining a cash-based economy, stating that Bangladesh spends nearly Taka 20,000 crore annually just on cash management.

In addition, widespread use of cash fuels corruption, robbery and illicit transactions, he added.

"With the introduction of a cashless interoperable system, corruption, mugging and illegal financial dealings will decline significantly. This will strengthen economic growth, enhance revenue collection and improve public safety," he stressed.

Expressing optimism, Mansur said with the cooperation of the Gates Foundation and Mojaloop Foundation, and by using Bangladesh Bank's internal capacity, the central bank will be able to launch an effective interoperable payment system within a short period.