Bangladesh can power a cashless future through digital finance: its vast scale with 186 million mobile subscriptions, 129 million internet users, 93 million smartphone users, a 1.8 million agent Mobile Financial Service (MFS) network, and about 70 percent of adults using MFS, creates a strong opportunity for expanded access to digital financial services.
Dr. Gayle Martin Country Director (Interim) The World Bank
But gaps remain significant. The Global Findex 2025 shows only 43 percent of Bangladeshi adults have an account (vs. 75 percent in low- and middle- income (LMIC) economies), and just 28 percent made a digital payment in the past year, with a wide gender gap (17 percent of women vs. 40 percent of men). Usage is shallow: Only 40 percent of 230 million MFS accounts are active; 75-90 percent of transactions are cash-in/cash-out. Merchant payments are under 10 percent, partly due to high merchant discount rates that make digital payments uneconomical for small businesses. Additional hurdles include manual, opaque Govern-ment-to- Person disbursements, onerous cross-border licensing and endorsement rules pushing users to informal channels and constrain remittance; and under invested retail infrastructure with limited user awareness that slows uptake of interoperable digital payments. These constraints suppress DFS-driven job creation. With reforms, the 2025 Bangladesh Country Private Sector Diagnostic (CPSD) estimates DFS could formalize 320,000-360,000 jobs over the next five years.
Key policy recommendations are strengthen fintech regulations; enhance credit reporting and data-sharing; adjust transaction limits for wider access; promote platform interoperability; and use alternative data responsibly to expand credit. These steps would empower small and medium enterprises (SMEs), deepen inclusion, and attract private investment. See the CPSD for details: https://www.ifc.org/content/dam/ifc/doc/2025/bangladesh-country-private- sector-diagnostic-en.pdf
The World Bank Group supports Bangladesh through investments and advisory to strengthen digital public infrastructure, expand credit reporting systems, and promote inclusive digital finance. The forthcoming Financial Sector Support Project II will bolster financial infrastructure and regulatory capacity. IFC collaborates with regulators and private players to broaden access and scale payment networks, advancing a cashless Bangladesh as a driver of inclusive, sustainable growth.
