Dhaka, Aug 20 (V7N) – Bangladesh Bank Governor Dr. Ahsan H. Mansur has said that cash-based transactions fuel corruption and make it easier to evade taxes, underscoring the urgent need to shift toward a cashless economy.

Speaking at a seminar on development strategies on Wednesday morning, Dr. Mansur stressed that Bangladesh is steadily laying the foundation for a cashless society. “Within the next 7 to 8 years, Bangladesh will emerge as a major hub for a cashless economy,” he said.

The governor pointed out that restoring discipline in the financial sector remains the biggest challenge ahead. “Once financial discipline is ensured, the macro economy will be stronger. Alongside, innovation in financial transactions is essential to ensure inclusion for all,” he added.

Highlighting recent trends, Dr. Mansur noted the growing popularity of mobile financial services’ nano loan scheme, which provides small-scale loans through digital platforms. On average, 4,000 people are availing such loans daily, amounting to a total disbursement of nearly Tk 7,000 crore so far.

END/SMA/AJ