Eastern Bank PLC (EBL), in partnership with bKash Limited, is set to introduce the country's first bank-led digital Fixed Deposit (FD) service through a mobile financial services platform, marking a significant milestone in advancing digital banking and financial inclusion in Bangladesh, according to a press release.
M. Khorshed Anowar, Deputy Managing Director and Head of Retail and SME Banking, EBL, and Ali Ahmmed, Chief Commercial Officer of bKash, jointly made announcement of the FD service on bKash app at a ceremony held today at EBL Head Office in Dhaka.
The new service will enable bKash users to instantly open and manage EBL Fixed Deposits directly through the bKash app, eliminating the need to visit a bank branch. By making secure savings products more accessible, the initiative aims to encourage greater financial inclusion and help people across the country, including those in semi-urban and rural areas, grow their savings conveniently through a trusted digital platform.
M. Khorshed Anowar, Deputy Managing Director of EBL, said “After the successful launch of EBL DPS in bKash App, we took the initiative to be the first bank to offer Fixed Deposit in bKash App. This a testament to the inclusive banking EBL is striving for. Now people across Bangladesh can open EBL Fixed Deposit as per their convenience on bKash App. EBL will continue to extend its savings services to a broader customer segment as a way forward to inclusive banking.”
Ali Ahmmed, Chief Commercial Officer of bKash, said, “The deeper collaboration between banks and bKash is creating new opportunities to deliver accessible, innovative, and customer-centric financial solutions for the entire country. By leveraging bKash’s extensive customer base and digital infrastructure, banks can extend their services to millions with greater convenience. Through this partnership, we have further expanded our common objectives of innovating financial products supporting financial inclusion and empowerment.
Ziaul Karim, Head of Brand, Marketing and Communications along with senior officials from both organizations were present at the event.