Bangladesh's Economy
bKash and Mobile Money
How bKash, launched by BRAC Bank in 2011, brought mobile money to millions of Bangladeshis and made digital payments part of everyday life.
bKash is Bangladesh’s leading mobile financial service.
Origins
Launched in 2011 as a subsidiary of BRAC Bank, later with investment from Ant Group and the Gates Foundation.
How it works
- Users open accounts on basic phones.
- Agents in shops let users deposit and withdraw cash.
- Users send money, pay bills and receive wages.
Scale
bKash has tens of millions of users, and mobile money has become widespread.
Uses
- Garment workers receive wages digitally.
- Migrants in cities send money to families in villages.
- Government benefits.
Competition
Nagad, backed by the postal department, grew quickly as a rival.
Comparison
- Kenya’s M-Pesa was a model.
- India’s UPI works through bank accounts, while bKash works as a mobile wallet.
The wage transfer
A garment worker in Dhaka receives her wage in bKash and instantly sends part to her mother in a village, who withdraws cash at a local shop agent.
Thinking mobile money needs smartphones
bKash works on basic phones through agents.
Key takeaways
- bKash launched in 2011 under BRAC Bank.
- It has tens of millions of users.
- Agents convert cash and digital money.
- Workers and migrants use it for wages and transfers.
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