Bangladesh to become trusted destination for investors: BB governor

Business Desk :

Bangladesh Bank (BB) Governor Dr Ahsan H Mansur on Tuesday said Bangladesh will become a trusted destination for both local and foreign investors.

“The idea that foreign investors will just take our money and leave is a misconception,” he said while speaking as the chief guest at the Google Pay services launching event at a hotel in the city.
The City Bank launched the digital payment service in collaboration with Google, Mastercard, and Visa.

From now on, the bank’s customers can use the service with their debit and credit cards. By linking their Mastercard or Visa card to Google Wallet, users will be able to make fast, secure, and contactless payments using Google Pay, reports BSS.

The service will also offer seamless transactions at any Near Field Communication, or NFC-enabled point-of-sale (POS) terminal, both domestically and internationally, simply by tapping their Android phones.

Google Pay utilises advanced encryption technology to ensure the security of users’ data. There is no need to carry a separate plastic card. Google Pay can be used for everything – from air travel to daily purchases.

In his speech, Mansur laid emphasis on improvements in technology and management within the country. “If foreign companies operate the Chattogram Port for 10 to 20 years and later hand it back, we would benefit from the skills gained and could run ports in other countries. Believing we can do everything solely with our current technology is unrealistic,” he added.

The BB chief said that Google Pay is a part of the broader goal of financial inclusion.
He stressed the importance of connecting every Bangladeshi with the banking and financial sector, and mentioned that he has directed banks to work with schools to help achieve this.

“This partnership reflects our commitment to building a future-ready digital payments ecosystem in Bangladesh”, said Mashrur Arefin, Managing Director & CEO of City Bank PLC.