In a landmark move set to reshape Bangladesh’s financial landscape, Japan Remit Finance (JRF) and DBL Group have jointly applied to Bangladesh Bank for a full digital banking licence, paving the way for the establishment of the Japan Bangla Digital Bank.
The proposed institution—first granted preliminary approval by the central bank in 2023—is now awaiting the issuance of a Letter of Intent (LOI), the final regulatory step before formal operations can commence. The digital bank aims to deliver technology-driven, inclusive financial services tailored to the needs of Bangladesh’s unbanked and underserved communities, bridging a long-standing gap in financial accessibility.
Expanding Digital Inclusion Across Bangladesh
The Japan Bangla Digital Bank will focus on integrating mobile-first and cloud-based solutions to extend secure, low-cost banking services to remote and rural populations. Through AI-powered analytics, digital identity verification, and cross-border remittance integration, the bank intends to facilitate seamless access to savings, credit, and digital payments for millions currently excluded from the traditional banking ecosystem.
| Key Details of the Proposed Japan Bangla Digital Bank | Description |
|---|---|
| Promoters | Japan Remit Finance (JRF) and DBL Group |
| Regulatory Authority | Bangladesh Bank |
| Current Status | Awaiting Letter of Intent (LOI) |
| Primary Focus | Unbanked and underserved customers |
| Technology Backbone | JRF’s cross-border fintech and digital wallet platform |
| Annual Remittance Processed by JRF | Over USD 550 million |
| DBL Group’s Annual Turnover | Over USD 1 billion |
| Workforce of DBL Group | 50,000+ employees |
| Number of Associated Companies (DBL Group) | More than 30 |
International Expertise and Local Strength
Founded in 2011, Japan Remit Finance (JRF) brings over a decade of international fintech experience to the partnership. The company currently serves more than one million registered customers across Japan, Bangladesh, Malaysia, South Korea, the Philippines, Vietnam, and Canada. Its advanced API-driven infrastructure connects with over 100 banks, payment processors, and mobile financial service providers across Asia, North America, and Europe.
JRF’s technology will form the digital backbone of the new bank, offering robust transaction security, regulatory compliance, and seamless remittance integration. Its platform is expected to facilitate instant fund transfers between Japan and Bangladesh, particularly benefiting the country’s large diaspora community.
Complementing JRF’s global experience, DBL Group, one of Bangladesh’s most diversified industrial conglomerates, will contribute local market strength and deep operational expertise. With an annual turnover exceeding USD 1 billion and more than 50,000 employees, DBL Group operates over 30 companies across industries including textiles, ceramics, pharmaceuticals, telecommunications, and digital solutions. The group has also partnered with several global financial institutions such as the International Finance Corporation (IFC), DEG (Germany), the Asian Development Bank (ADB), and British International Investment (BII).
A Milestone for Bangladesh’s Fintech Evolution
The initiative aligns closely with Bangladesh Bank’s Digital Banking Framework, introduced to foster innovation and inclusion in the financial sector. Once licensed, Japan Bangla Digital Bank will become one of the country’s first cross-border digital banking ventures, combining Japanese technological innovation with Bangladeshi entrepreneurship.
Industry observers see this collaboration as a turning point for the digital economy, enabling secure digital finance for millions without formal banking access. It also reflects Bangladesh’s growing readiness for a cash-light economy, supported by progressive regulation and the rapid adoption of mobile technologies.
Experts believe the bank’s model—built on international remittance channels, financial literacy programmes, and low-cost fintech—could serve as a blueprint for future digital banking ventures in South Asia.
If approved, Japan Bangla Digital Bank is expected to begin pilot operations in late 2026, marking a significant milestone in Bangladesh’s ongoing journey towards universal financial inclusion.