WB President hails bKash

Dhaka,  Tue,  25 October 2016
Published : 19 Oct 2016, 21:59:58

WB President hails bKash

bKash was praised for success in advancing vision of financial inclusion into reality

World Bank (WB) Group President Dr. Jim Yong Kim on October 17 visited the bKash Head Office in Dhaka, said a press release.

He also had a discussion with the officials on how bKash contributes towards digitalizing Bangladesh's economy and impacts the development of the country at the grassroots level.

Dr Kim was accompanied by WB's Chief Economist and Senior Vice-President Paul M Romer and WB Vice-President for the South Asia Region Annette Dixon.

WB Country Director for Bangladesh Qimiao Fan, Regional Director, IFC South Asia Mengistu Alemayehu and Country Manager of IFC Wendy Werner were also present.

The WB President praised bKash for its success in advancing the vision of financial inclusion into a reality for the marginal population of the country.

He expressed his ideas of bKash partnering with global technology providers for opening worldwide transaction opportunities to further enhance the inclusive agenda.

Kamal Quadir, CEO of bKash, briefed Dr. Kim and his team on how bKash evolved over the last six years. He also praised the favorable government policy as well as Bangladesh Bank's pragmatic guidelines that enabled bKash to reach millions of unbanked people of the country.

bKash Chairman Shameran Abed, Chief External and Corporate Affairs Officer Major General Sheikh Md Monirul Islam (retd) and Company Secretary & Chief Financial Officer Moinuddin Mohammed Rahgir were present from the bKash side.

It is noteworthy that IFC, a member of the World Bank Group, is one of the four shareholders of bKash.

Other three shareholders are BRAC Bank Ltd, Money in Motion LLC and Bill & Melinda Gates Foundation.
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