Kamal Qadir narrated the story of the evolving bKash

The Mobile Financing Service bKash has developed an accessible financial transaction system by reducing the operational cost of the bank and the cost of marginal people. Still, customers question the cost of bKash a community even if they don't complain, said Kamal Qadir, founder of the country's pioneering fintech bKash. At the first Bangladesh Startup Summit at the Grand Ballroom of Hotel InterContinental, Dhaka on Saturday, he presented the story of the journey of an era since its establishment. He said that in the last one and a half years, bKash has given a loan of Tk. 275 crore in joint venture with City Bank. Many of its loans have been received by customers even at half past midnight. 

Participating in the Fireside Chat, Kamal Qadir said, bKash has been able to gradually establish a trusted and strong culture from its partners.

Citing an example, he said, "We convinced Jamil Reza Sir to become an independent director to ensure interference-free management and security of customer's money." Similarly, by fostering the culture of Gates Foundation, we deposit the customer's money in 27 banks with the permission of the Central Bank. 77% of bKash's money is kept in governance security account, despite 25% of the rule. At the same time, we have brought innovative technologies like Biometric Facial Recognition KYC. Through this, 7 crore customers are verified in bKash.

After 14 years of development and 12 years of service, the company's CEO also modestly said that there is no more startup. He said, after receiving investment from Ali Pay, bKash has become a billion dollar company in the last 5 years. It's not a big deal. The issue is whether it is right as an institution or not. The first Bangladesh Startup Summit 2023 concluded the first day with 19 such seminars on fintech, e-commerce and venture meetups.