Bangladesh Bank Governor Dr. Ahsan H. Mansur has announced a major development for the country’s digital economy, stating that global digital payment service provider PayPal is keen to begin operations in Bangladesh very soon. If implemented, this move is expected to significantly ease international transactions for freelancers, online entrepreneurs, and small exporters across the country.
Speaking at a formal event, the Governor highlighted that thousands of Bangladeshi freelancers and small-scale exporters currently face multiple obstacles when receiving international payments. These challenges include delayed fund transfers, high transaction costs, and limited access to reliable global payment gateways. The introduction of PayPal would allow them to receive payments seamlessly from clients across the world, boosting confidence and income flow.
Dr. Mansur emphasized that PayPal is globally recognized for its secure transaction framework, refund facilities, and buyer-seller protection mechanisms, which make cross-border digital commerce safer and more transparent. Currently, PayPal operates in over 200 countries and regions, serving as a critical financial tool for freelancers, e-commerce platforms, and digital service providers worldwide.
📊 Key Benefits of Introducing PayPal in Bangladesh
| Sector | Key Benefits |
|---|---|
| Freelancing | Faster and hassle-free income receipt |
| Online Business | Simplified international sales |
| Small Exports | Exporting small consignments without LC |
| Consumer Protection | Refunds and dispute resolution support |
The Governor also stressed the importance of reducing cash dependency in the economy. He revealed that Bangladesh spends nearly BDT 200 billion annually on currency printing, handling, and management alone. Expanding digital payment systems could substantially reduce this cost and enhance overall financial efficiency. As part of this effort, the central bank is actively promoting digital transactions nationwide.
In addition, Dr. Mansur underscored the urgent need to increase credit flow to the agricultural sector. Currently, agriculture receives only 2 percent of total bank credit, which he believes should be increased to 10 percent to ensure sustainable growth, food security, and rural development.
The event concluded with the presentation of awards to eight individuals and three institutions in recognition of their outstanding contributions to the agricultural sector.