Bangla QR Payments Launched at UIU

Bangladesh will need Tk60,000 crore from the national budget every year for the next five to eight years to recover its banking sector from extensive financial looting and structural damage, Bangladesh Bank Governor Mostakur Rahman said on Saturday. He made the remarks as the chief guest at an event promoting Bangla QR transactions, organised by ONE Bank PLC at United International University (UIU) in Dhaka on October 10.

UIU Vice-Chancellor Md Abul Kashem Mia and ONE Bank PLC Managing Director Muhit Rahman attended the event. More than 400 university students participated.

Highlighting the scale of money laundering and irregularities in the financial sector, the governor said one-third of the banking system’s total funds had been looted when he took office. He said the money could have been used to support two crore families or build two major infrastructure projects comparable to the Padma Bridge.

Strongly criticising those responsible for creating a liquidity crisis in the banking system, Mostakur Rahman said ordinary words were insufficient to describe the severity of the crime. He said a group of looters had taken public money, describing the act as plunder rather than ordinary theft.

He said stringent legal measures were already being taken to hold those involved in major financial irregularities and money laundering accountable and recover the looted assets.

Bangla QR Payments on Campus

The event was informed that ONE Bank PLC had launched Bangla QR payment services at UIU to encourage digital transactions among young people, reduce cash use on campus and establish a modern payment system. The initiative is part of efforts to build an inclusive, technology-driven cashless economy. Students and other members of the university community will be able to make digital payments for selected transactions on campus.

ONE Bank PLC Managing Director Muhit Rahman said digital transformation becomes meaningful when financial services are easier to use and more accessible in everyday life. He said the launch of Bangla QR at UIU would give students hands-on experience with interoperable digital payments and help them better understand the potential of digital financial services.

He said the bank was pleased to partner with UIU to implement Bangladesh Bank’s vision and engage young people in shaping the future of digital payments.

Earlier, the Bangladesh Bank governor exchanged views with students on digital payments, financial innovation and the future of the banking sector.

A presentation outlined Bangladesh Bank’s Bangla QR initiative and its role in developing the country’s digital payment system. Cashless payment facilities were also introduced at various outlets across the university under the initiative.

Those involved in the initiative expect the partnership between ONE Bank and UIU to raise students’ awareness of digital transactions and help expand their use.
//DBTech/DMN/MIS/MNO//