Bangla QR code usage to be mandatory from July 1, boosting cashless transaction

Bangladesh Bank (BB) has made the use of Bangla QR code mandatory from July 1 as part of its efforts to reduce cash-based transactions and accelerate the country’s transition towards a cashless economy.

BB Deputy Governor NurunNahar made the announcement at the inauguration ceremony of “Bangla QR Transaction Campaign” held at the central bank’s headquarters in Motijheel on Thursday.

Chairman of Association of Bankers, Bangladesh (ABB) and City Bank Managing Director MashrurArefin, along with chief executives and managing directors of various commercial banks were present at the event.

“The initiative to launch Bangla QR has been taken to build a cashless society by reducing cash transactions,” said Deputy Governor NurunNahar.

She explained that the system will allow retail customers to pay exact billing amounts seamlessly without the hassle of carrying loose cash or paying additional costs, making payments more convenient, secure, and safe.

Deputy Governor Dr. HabiburRahman noted that because digital channels systematically document transactions, the informal or undocumented economic footprint will shrink.

As a result, economic activities will become more dynamic, contributing to GDP growth and strengthening the overall economy through greater financial inclusion.

He urged banks and other financial service providers to integrate the Bangla QR facility into their mobile applications to ensure easier access to digital transaction services for ordinary citizens and small businesses.

Speaking at the event, Bangladesh Bank Deputy Governor Kabir Ahmed highlighted that wider adoption of Bangla QR would help increase the country’s tax-to-GDP ratio as more transactions move to digital platforms.

This would enhance government revenue collection and support faster implementation of development activities, he added.

Ahmed also revealed that a fully interoperable Instant Payment System (IPS) is slated for launch next year. Once functional, the platform will enable instantaneous fund transfers from any mobile financial service (MFS) wallet to a bank account, and vice versa.

According to the central bank, the primary objective of the campaign, organised by its Communications and Publications Department, is to directly demonstrate the operational efficiency of cashless frameworks in daily transactions and scale up digital payment adoption.

A number of top fast-moving consumer goods (FMCG) and mega-retail brands in the country participated in the campaign.

Prominent companies participating in the event included Unilever Bangladesh, Agora (Rahimafrooz), Meena Bazar, ACI Logistics Limited (Shwapno), Unimart, Savoy Ice Cream, RFL Group, and MR. DIY.