DHAKA, Nov 25, 2025 (BSS) - Bangladesh Bank (BB), in collaboration with the Gates Foundation, today hosted a high-level stakeholder engagement event in the city to significantly advance the nation's digital payment ecosystem by implementing Inclusive Instant Payment Systems (IIPS).

The event, titled "Instant Payment in Bangladesh: Unveiling Inclusion Opportunities," took place at The Westin in the city, said a press release.

This initiative is designed to take existing payment infrastructures—such as BEFTN, BACPS, NPSB, RTGS, Bangla QR, and the Taka Pay card—to the next level, reinforcing the country's progress in developing a modern and inclusive digital financial landscape.

The engagement event was honored by the presence of chief guest Dr. Ahsan H. Mansur, Governor of Bangladesh Bank, and was chaired by Deputy Governor Md. Zakir Hossain Chowdhury.

Reflecting a strong multi-sector commitment, distinguished guests included top officials from Bangladesh Bank, MDs/CEOs from Banks, MFS, Fintechs and financial and microfinance institutions.
Also marking their presence were Michael Wiegand, Director of Inclusive Financial Systems (IFS) of the Gates Foundation, along with Ms. Snigdha Ali, IFS Bangladesh Country Lead.

In his address, Dr. Ahsan H. Mansur emphasized the crucial need for a seamless payment system.

He expressed optimism that the IIPS initiative will drive Bangladesh toward achieving a cashless society.

The central goal of this digital transformation is to establish interoperable financial services by bringing Banks, MFS Operators, Microfinance Institutions, Financial Institutions, and Payment Service Operators under one unified channel.

Dr. Mansur further stated that digitization is essential for achieving transparency in transactions.

The digital transformation is expected to significantly reduce dependence on cash, thereby minimizing the cost associated with printing money, he added.

He said the timeline for this ambitious project is set for full interoperability implementation by mid-2027.

Once successfully rolled out, the system is projected to increase the country’s tax potential and reduce overall transaction costs, he added.