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Speakers at a discussion on Thursday stressed that despite its vast potential, digital banking in Bangladesh had yet to flourish due to weak policy support, a lack of consumer trust, and inadequate infrastructure.
They underlined three common priorities - strengthening cyber security to build trust, improving affordability and access for users across the country, and ensuring stronger coordination among regulators, banks, and fintech companies.
The Dhaka Chamber of Commerce and Industry (DCCI) organised the discussion titled "Digital Banking for All: Bridging Gap in Financial Inclusion" at its office in the capital.
In his welcome speech, DCCI President Taskeen Ahmed noted that although mobile financial services (MFS) were introduced in 2011, only around 54 per cent of the population currently used them.
While MFS had eased access to financial services, challenges such as cyber security risks, weak consumer protection, and trust deficit had hindered the sector's growth, he said.
He called for greater affordability of services, enhanced financial and digital literacy, and improved coordination between financial institutions and regulators, emphasising that security and trust must remain the top priorities.
Joining virtually as the chief guest, ICT Division Secretary Shish Haider Chowdhury highlighted that the government, private sector, and academia were working together to modernise digital services.
He identified four priorities - integration, accessibility, interoperability, and scalability - for digitalising the banking sector.
Cautioning that improper registration processes had already exposed the data of 50 million citizens to the dark web, he stressed the urgency of robust encryption and monitoring.
He assured that policy support for digital banking would be forthcoming and a personal data protection ordinance was expected within a month.
The government was working towards delivering all citizen services through a single one-stop platform, he added.
Dr Md Ezazul Islam, executive director of the Bangladesh Bank, said while Bangladesh had advanced in debit, credit, deposit, and insurance services, most citizens remained excluded from the formal banking system.
The total money circulation stood at Tk 31.5 trillion till August, of which Tk 22.7 trillion was outside the banking channels, he said. Only 27-28 per cent of financial transactions were carried out digitally, he noted, stressing the need for greater inclusion.
In his keynote presentation, Sanjid Hossain, head of commercial partnership at Robi, said the Asia-Pacific digital banking market was valued at $4,678.47 million in 2025 and projected to reach $11,238.6 million by 2033.
He argued that Bangladesh's digital banking market could reach $30 billion, but warned that without a robust cyber security ecosystem, the sector remained vulnerable.
Sanjid urged the central bank to strengthen oversight and called for wider access to smartphones and the internet, especially in rural areas.
Md Elius Ziku, additional deputy commissioner of the Detective Branch of Dhaka Metropolitan Police, pointed out that fraud through digital financial systems remained widespread, with financial crimes amounting to Tk 100-200 million daily.
He suggested renewal processes for mobile banking accounts and urged customers to remain vigilant.
Other speakers also highlighted governance, policy, and security issues.
Arif Khan, vice chairman of Shanta Asset Management, noted that despite 64 commercial banks operating in Bangladesh, new digital banks were being introduced even as mismanagement continued to drive non-performing loans.
Kazi Azizur Rahman, additional managing director and chief information officer of City Bank, stressed that 30-40 per cent of the population still kept large sums outside the banking system due to a lack of regulatory oversight and the absence of a roadmap for digital banking.
Rezwan Ali, director of Omega Exim, said import-export activities remained dependent on traditional methods, and suggested integrating the relevant institutions into blockchain systems to ensure transparency.
Shahee Mirza, co-founder and chief cyber operations officer of Beetles Cyber Security, urged the adoption of a unified national cyber security framework to secure agent banking and strengthen resilience against emerging threats.
The discussion was also attended by DCCI Senior Vice President Razeev H Chowdhury, Vice President Md Salem Sulaiman, board members, and entrepreneurs from relevant sectors.
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