, Sept. 15 -- Bangladesh is making rapid progress toward a cashless and interoperable instant payment system, said Bangladesh Bank Governor Ahsan H Mansur.

The governor said this while speaking as the chief guest at a "Stakeholder Discussion on Interoperable Payments in Bangladesh" held at a hotel in Gulshan on Monday.

"A cash-based economy is expensive for us. The banking sector loses about Tk 20,000 crore annually, and the government loses around Tk1.5 lakh crore in revenue. Therefore, we must gradually reduce cash usage and transition to digital transactions," he added.

According to the governor, an interoperable instant payment system will be introduced soon, which allows anyone to make payments or exchange funds instantly, anytime...