Bangladesh Bank Automates FX Market and Promotes Digital Payments
- Reports
- 3
- Developments
- 4
- Repetition
- 67%
New informationRepeats or wire copies
What happened
Bangladesh Bank launched a Foreign Exchange Market (FXM) Module to automate foreign exchange intervention, interbank transactions, and reporting activities. Separately, Governor Md Mostaqur Rahman highlighted the importance of Bangla QR in promoting secure, convenient, and interoperable digital payments across banks, Mobile Financial Services, and other providers.
Why it matters
The FXM module aims to enhance efficiency, transparency, and reliability in the country's foreign exchange market by enabling real-time transactions. The promotion of digital payments supports the national vision of building a cashless and smart Bangladesh.
Bangladesh Bank manages monetary policy in Bangladesh.
Who's involved
- Md Mostaqur RahmanGovernor of Bangladesh Bank, promoting digital payment initiatives and inaugurating the FXM system.
- Bangladesh BankCentral bank of Bangladesh, managing monetary policy and launching the FXM Module.
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- Bangladesh Investment Development AuthoritySpeculative
Digital payments might enhance transparency and ease of doing business for Foreign Direct Investment.
- National Board of RevenueSpeculative
The central bank's push for digital payments could aid the National Board of Revenue's revenue tracking and compliance functions.
How it developed
Newest first. Tap a step to see who reported it.- The formal banking system, monitored by Bangladesh Bank, could provide an alternative to informal networks for the Rohingya population residing in camps in Bangladesh.Sub-event
- MFS supports the cashless ecosystem for inclusion, coinciding with Md Mostaqur Rahman's role as Governor of Bangladesh Bank.Sub-event
- International Finance Corporation and Bangladesh Bank jointly implement the Cashless Digital Bangladesh project.Sub-event
Bangladesh Bank is promoting digital payment initiatives to build a cashless ecosystem.1 source
Keep exploring
The entities involved
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Md Mostaqur Rahman
14th Governor of Bangladesh Bank
Nothing else this week.
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Bangladesh Bank
central bank of Bangladesh and member of the Asian Clearing Union
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Bangladesh
country in South Asia
Related events
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- The Bank Resolution (Amendment) Bill, 2026 seeks to amend the powers of the central bank.
- Karmasangsthan Bank hosted an inaugural ceremony for its financing fund in Bangladesh.
- The central bank governor announced new credit disbursement targets aimed at boosting production and controlling inflation within the agricultural sector.