Bangladesh Bank is set to roll out a national interoperable payment system with the technical backing of the Gates Foundation, ushering in a new era of seamless, instant, and secure digital transactions across the country.

The announcement was made by Bangladesh Bank Governor Ahsan H Mansur during a stakeholder consultation titled “Interoperable Payment in Bangladesh” held on 15 September 2025, jointly organized by the Policy Research Institute (PRI) and the Gates Foundation.

A Unified National Payment Infrastructure

The proposed interoperable system will allow individuals and businesses to make instant money transfers across mobile wallets, bank accounts, non-bank financial institutions, and institutional accountsremoving the current silos that exist between services such as bKash, Nagad, and internet banking platforms.

“This initiative is designed to unify fragmented services into a single national payment ecosystem, where person-to-person and institution-to-institution transactions can happen seamlessly. It will be a transformative step toward building a truly cashless economy,” said Governor Mansur.

Backed by Global Best Practices

Previous efforts to build interoperability in Bangladesh had fallen short. However, this time the project is being developed with the support of the Gates Foundation and Mojaloop Foundation, leveraging international experience.

“Similar systems have already been piloted in countries like Pakistan with highly successful outcomes. Those lessons give us both inspiration and practical insights as we move forward,” Mansur added.

Cutting the High Cost of Cash

Bangladesh currently spends nearly Tk 20,000 crore annually on managing cash circulation. Beyond the economic burden, heavy reliance on physical money also fuels corruption, robbery, and illicit financial activities.

“With the interoperable system, cash management costs will be drastically reduced while enhancing transparency and security in transactions. This will also contribute to stronger economic growth and more efficient revenue collection,” said the governor.

Toward a Cashless Future

The central bank expressed optimism that with coordinated efforts, the interoperable payment platform could be rolled out in the near future. Once launched, the system is expected to strengthen financial inclusion, improve public safety, and accelerate Bangladesh’s journey toward a digital and cashless economy.