Yunus launches gpay with focus on youth empowerment, entrepreneurship
He says gpay would focus on addressing various technological and financial transaction-related problems faced by people.
Bringing people across Bangladesh under digital services and equipping young people with information technology skills to become entrepreneurs are among the main goals of digital financial services platform gpay, said Professor Muhammad Yunus.
He formally launched the platform at an event at Pan Pacific Sonargaon Hotel in Dhaka today (1 October), held under the slogan "Solution in gpay".
Speaking as the chief guest, he said gpay would focus on addressing various technological and financial transaction-related problems faced by people.
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"Not a single taka of gpay's income will go into the pockets of any investor. All of its income will be spent in the social business sector," he said.
He said income generated by social business organisations is currently being spent on education and healthcare in Bangladesh.
"We are going to launch Grameen University very soon, which will play a leading role in creating young entrepreneurs in the country. After graduating from this university, students will not have to look for jobs. Rather, each of them will leave as a successful entrepreneur," Yunus said.
Stressing the need for a cashless society and financial security, he said people no longer needed to carry or keep large amounts of cash at home.
"gpay is a secure technology service through which people can keep large amounts of money in a digital wallet, move around without worry and make transactions securely," he said.
Referring to the global success of Grameen Bank, the Nobel laureate said the microcredit model had been adopted in the United States after seeing its success in Bangladesh.
He claimed that the model is now operating in 32 US states, providing around $35 billion in loans annually, with a recovery rate of nearly 100%.
"We have now successfully adapted that advanced technological service in Bangladesh," he said.
Ashraful Hasan, managing director of Shamadhan Services Ltd, delivered the welcome speech at the event. Yunus and senior management officials of the company later unveiled gpay's official logo and app.
Dr Ahmed Armaan Siddiqui, CEO of gpay, said the platform aims to simplify financial transactions for everyone.
"Our main goal is to reduce the complexity of financial transactions and make them easier to understand. Our main commitment is to provide a solution to any financial problem through gpay," he said.
The event was attended by ambassadors from several countries, senior representatives of the banking and financial sectors, officials of relevant organisations and media professionals.
The 2026 Social Business Day programme also lists Dr Ahmed Armaan Siddiqui as CEO of Shamadhan Services Ltd (gpay), while a Grameen event programme identifies a "Shomadhan gpay Card" launch.
