Dhaka, Nov. 2 -- When Bangladesh launched mobile financial services more than a decade ago, the ambition was clear: to build a cashless society.
It was envisioned as a quiet revolution that would reshape the country's financial habits, reduce dependence on physical money, and bring millions into the formal economy.
The technology succeeded in spreading widely, but its deeper purpose remains largely unfulfilled.
Today, mobile banking accounts number more than 145 million, and every month transactions exceed Tk 1.5 lakh crore.
Yet, according to Bangladesh Bank data, more than 85 per cent of these activities are still limited to basic money transfers, including cash in, cash out, and person-to-person exchanges.
Only a small fraction, arou...