United News of Bangladesh

Bangladesh Bank (BB) has announced that the usage of standardised Interoperable Quick Response (QR) code, known as "Bangla QR," will become mandatory across the country from July 1, 2026, to minimise cash transactions and transition toward a cashless economy. BB Deputy Governor Nurun Nahar 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 Mashrur Arefin, 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 Nurun Nahar. 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. Habibur Rahman noted that because digital channels systematically document transactions, the informal or undocumented economic footprint will shrink.  This structural shift is expected to expand the size of the national Gross Domestic Product (GDP), stimulate broader economic activities, and strengthen the country’s overall macroeconomic foundation as more citizens join the digital financial ecosystem, he said Dr. Habibur urged all commercial banks and payment system operators to integrate the Bangla QR functionality directly into their proprietary mobile applications, facilitating easy access to digital financial services for both general citizens and small-scale cottage merchants. Deputy Governor Kabir Ahmed highlighted that shifting the majority of retail transactions to digital platforms will drastically improve the country’s tax-to-GDP ratio. This formalisation, he noted, will boost the government's revenue collections and accelerate public development projects. 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. "Every step of a digital transaction leaves a distinct digital trail or footprint," Ahmed stated, adding that this real-time traceability will significantly ease the monitoring of fund flows and bolster national anti-money laundering frameworks.  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. Central bank officials and employees actively participated by scanning Bangla QR codes at temporary stalls inside the bank premises to complete purchases and clear utility bills. 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.