Global digital payment service PayPal is set to begin operations in Bangladesh soon, aiming to help small entrepreneurs access international markets and facilitate the sale of their products more efficiently. Bangladesh Bank Governor Ahsan H Mansur confirmed this at the Agro Award 2025 ceremony on Tuesday (2 December).
He stated, “PayPal plans to conduct business in Bangladesh. Small entrepreneurs will be able to sell products and receive payments from international markets through this platform. Currently, following LC procedures through banks for small consignments is complicated, which limits entrepreneurs’ opportunities.”
The governor added, “Through this new international payment platform, entrepreneurs will be able to send products to Europe, America, and other countries. The absence of such a platform currently creates difficulties for many people in the outsourcing sector to receive international payments, and in many cases, they do not receive full payments.”
PayPal is a global digital payment system that allows users to send and receive money online, pay bills, and make international purchases. It links securely with the user’s bank or card and completes transactions quickly. The platform also provides buyer and seller protection and refund facilities.
Governor Mansur highlighted, “PayPal will be an essential tool for small entrepreneurs to enter international markets and receive payments efficiently. It opens new opportunities for economic growth in the country.” The ceremony was organised by Standard Chartered Bank and Channel i, and after evaluating more than 500 applications, eight individuals and three organisations were awarded.
On cash transactions, he said, “Cash is at the root of corruption in the country. Around Tk 20,000 crore is spent annually on cash handling. We aim to gradually reduce cash transactions.”
Regarding agricultural loans, the governor noted, “Currently, agricultural loans account for only 2% of total loans. To develop the sector, this should increase to 10%. Bangladesh Bank has a Tk 25,000 crore fund for SME loans, but bank capacity limits full utilisation.”
On food grain production, he added, “After independence in 1971, food grain production was 1.3 crore tonnes. Now it has increased to nearly 4 crore tonnes. While the population has more than doubled, production has tripled, which plays an important role in the country’s economic and social development.”
Table: PayPal, Economy, and Agricultural Data
| Topic | Details |
|---|---|
| PayPal operations | Soon to start in Bangladesh |
| Objective | Connect small entrepreneurs to international markets |
| Benefits | Secure, fast, and convenient payment processing |
| Global reach | 200+ countries |
| Agro Award 2025 | 8 individuals, 3 organisations awarded |
| Annual cash handling cost | Approx. Tk 20,000 crore |
| Agricultural loans | 2% of total loans, target 10% |
| Food grain production | 1971: 1.3 crore tonnes, Now: nearly 4 crore tonnes |
AJ