Gazette Includes Launching PayPal Services in Bangladesh

The government has formed a high-level committee to ensure the effective management of the country’s Hi-Tech/Software Parks and ICT Centers and to address various structural challenges in the technology sector.

According to the official gazette notification, the six-member committee has been constituted to enhance the efficient operation of these facilities. Adviser Rehena Afroz Asad has been appointed as the Chairperson of the committee. Other members include the Chairman of the Bangladesh Investment Development Authority (BIDA), the Governor of Bangladesh Bank, the Secretary of the Finance Division, and the Chairman of the National Board of Revenue (NBR). The Secretary of the ICT Division will serve as the Member Secretary.

However, the post of Secretary remains vacant following the reassignment of former secretary Shish Haider Chowdhury to the Ministry of Public Administration. Currently, Additional Secretary Md. Mamunur Rashid Bhuiya is performing the acting responsibilities of the secretary.

The committee’s mandate, published in the extraordinary issue of the Bangladesh Gazette on March 2, states that it will take the necessary measures to ensure the effective and coordinated management of all Hi-Tech/Software Parks and ICT Centers across the country. It will also consider formulating policies to enable freelancers and technology professionals to earn foreign currency more easily and at lower cost.

The notification further states that the introduction of international online payment services in Bangladesh will be included in the committee’s agenda. In particular, the committee will review initiatives required to launch PayPal services in Bangladesh. It will also provide recommendations to strengthen ICT training programs aimed at developing skilled human resources in the technology sector.

The notification also mentions that the committee may co-opt additional members if necessary.

Government sources say the committee is expected to play a significant role in accelerating the growth of the country’s digital economy, freelancing, and software industries. Stakeholders believe that if initiatives such as introducing international payment gateways and increasing foreign earnings from the technology sector are successfully implemented, Bangladesh’s ICT sector will become significantly stronger.

Efforts have been underway for more than a decade to bring the American multinational online payment service PayPal to Bangladesh. The platform currently has more than 360 million users across over 200 countries worldwide. Because no fees are charged for personal transactions, it is particularly popular among freelancers. Technology experts believe that the introduction of PayPal benefits could bring revolutionary changes to the country’s freelancing, entrepreneurship, and e-commerce sectors. They note that, compared with existing methods, PayPal is considered more reliable for receiving payments from international clients quickly and conveniently. Moreover, PayPal for Freelancers would help freelancers receive payments from global marketplaces and direct clients, thereby expanding their work opportunities and income potential.

DBTech/DHE/EK/OR