![]() ![]() ![]() īKash started in 2011 as a joint venture between BRAC Bank Limited, Bangladesh, and Money in Motion LLC, United States of America. Now it has its own mobile application, it has been recognized as the best innovation at the Financial Innovation Category in Bangladesh Innovation Award 2018 for its simplified and useful features. More user-demanded services like airtime top-up, bills payment, train-movie ticket purchase were introduced over its span. ![]() bKash launched in July 2011 in Bangladesh, with basic services: Cash In, Cash Out and Send Money, keeping in mind that more than 70% of the population of Bangladesh lives in rural areas where access to formal banking services is difficult for people. In 2010 they committed to establishing a joint venture between Money in Motion and BRAC Bank. Discussions between them and Abed continued over a two-year period. ![]() In mid-2000s, mobile financial services had taken off in the Philippines, Kenya, and other emerging markets when the two Quadir brothers decided to bring it to Bangladesh. In need of a local partner, the Quadir brothers began to engage BRAC's founder, Sir Fazle Hasan Abed, in 2008. History īKash was launched by Kamal Quadir and Iqbal Quadir. World HRD Congress declared it as one of Asia's best employees in 2017.Ī bkash agent shop at Gulshan 1, Dhaka, Bangladesh. Asiamoney magazine declared bKash as the Best Digital Bank(2018). According to Fortune, 22% of Bangladeshi adults use bKash with around 4.5 million daily transactions. įortune magazine ranked bKash among the top 50 companies in their Change the World list in 2017. In November 2021, bKash becomes the first ever Unicorn startup (a startup whose valuation is $1 billion or more) company in Bangladesh. A user can receive money from overseas on bKash. Services like mobile recharge or paying utility bills are also possible through bKash USSD (*247#) and bKash App. As a mobile financial service (MFS) provider in Bangladesh through bKash users can deposit money into their mobile accounts and then access a range of services, in particular transferring and receiving money domestically, making payments. This mobile money system started as a joint venture between BRAC Bank Limited, Bangladesh and Money in Motion LLC, United States of America. BRAC Bank Limited, Brac Bank, Ant Financial, Bill & Melinda Gates Foundation, Money in Motion LLC, International Finance Corporation īKash ( Bengali: বিকাশ) is a mobile financial service in Bangladesh operating under the authority of Bangladesh Bank as a subsidiary of BRAC Bank Limited. ![]()
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