Foreign entities managing Ctg Port will be beneficial for future skills: BB governor

Bangladesh Bank Governor Ahsan H Mansur has said that allowing foreign entities to manage the Chattogram Port for a decade or two would help the country develop the skills required for future port management, both at home and abroad.

Speaking as chief guest at the launch of Google Pay services in Dhaka today (24 June), the governor said, "If foreign entities manage the Chattogram Port for 10 to 20 years, we could gain the expertise needed to eventually handle such operations ourselves and even manage ports overseas. But thinking we can do everything immediately with our own technology isn't realistic."

His comments come amid ongoing discussions and debates on the government's move to hand over operations of the New Mooring Container Terminal (NCT) of Chattogram Port to a foreign operator.

Addressing the concerns over foreign involvement, Governor Mansur said, "Bangladesh is becoming a reliable destination for both local and foreign investment. The idea that foreign investors will come and take away our money is a misconception."

Goal of reducing inflation to 5%

The governor also spoke about the central bank's goal of reducing inflation to 5%.

"Bringing down inflation and restoring order in the banking sector are our primary objectives. We've already started seeing progress, though full stability will take time," he said.

Regarding banking reforms, the governor stressed the need for political will to fix long standing issues. He announced that risk-based supervision will begin in January 2026, with 20 banks already under varying levels of supervision.

"We are working to restore discipline in the financial sector. Some banks will need to merge to ensure overall sector stability. We hope to complete several mergers by December this year," he said, assuring depositors that their funds are secure.

He also warned against unjustified currency devaluation. "The value of the Bangladeshi taka will be determined domestically. Without a rational basis, there is no scope for even a one paisa devaluation. But unity is essential—otherwise, vested interests will try to exploit the situation."

Google Pay launches

In a major step towards a cashless economy, Google Pay was officially launched in Bangladesh yesterday through a collaboration between Google, City Bank, Mastercard, and Visa.

With this launch, City Bank becomes the first bank in Bangladesh to bring Google's digital wallet services to its customers. 

City Bank customers can now link their Mastercard or Visa credit and debit cards to Google Wallet, enabling them to use Google Pay for fast, secure, and contactless payments both locally and internationally. Transactions can be made by simply tapping Android smartphones at any NFC (Near Field Communication)-enabled POS terminal.

Google Pay incorporates advanced encryption technologies to protect user data, making it a secure and reliable option for digital transactions. As a result, users no longer need to carry physical cards – their smartphones become their digital wallets, usable for anything from shopping to air travel.

Speaking at the launching event as the chief guest, Governor Ahsan H Mansur highlighted the broader goal of financial inclusion. 

He said, "We are working to create an inclusive financial system. Every Bangladeshi should be connected to the banking and financial sector. We are encouraging banks to adopt digital solutions."

City Bank CEO and Managing Director Mashrur Arefin said, "This partnership is a reflection of our commitment to building a future-focused digital payment ecosystem in Bangladesh. We are proud to offer this innovative service to our customers."

Also in attendance were Tracey Ann Jacobson, chargé d'affaires of the US Embassy in Dhaka; Hossain Khaled, vice chairman of City Bank; Shammi Quddus, group product manager at Google Payments; Syed Mohammad Kamal, country manager of Mastercard Bangladesh; and Sabbir Ahmed, country manager of Visa Bangladesh, along with other senior officials.