Trust, security essential in digital transaction: bKash CEO

To ensure the security of customers' money and earning their trust are essential requirements in the Mobile Financial Services (MFS) sector of Bangladesh, said bKash Chief Executive Officer Kamal Quadir at a seminar.

"Trust is at the core of any transaction and the MFS sector has to earn that. bKash has already earned that trust," he said as a special guest at the seminar "Transforming the Paper Money to Digital: Takings from and Makings of Central Bank Digital Currency".

Scholars Bangladesh Society and Emerging Credit Rating Limited arranged the programme in the capital on Tuesday.

Kamal Quadir said the central bank strictly monitors all the daily transactions of bKash and other MFS companies. MFS companies have an obligation to deposit with the central bank through commercial banks and treasury bonds equivalent to their daily transactions.

Introducing MFS by the central bank has revolutionised the history of economic transactions in the country. Currently, 122 countries are on the way to adopting digital currencies which will save money and make transactions more efficient. A task force consisting of banking and technical experts should be formed to introduce digital currency in the country.

Bangladesh Bank's former governor and Unnayan Shamannay chairperson Atiur Rahman was the chief guest at the seminar. Jamaluddin Ahmed, chairman of Emerging Credit Rating Limited, delivered the keynote speech on the occasion.

ME Chowdhury Shamim, founder and president of Scholars Bangladesh Society, presided over the seminar.

Scholars Bangladesh Society Chief Executive Officer and Co-Founder Dilara Afroz Khan Rupa conducted the programme. 

Besides, Mizanur Rahman, an IT professional in Australia, Syed Mohammad Kamal, Mastercard Country Manager, and others were present as online panellists.