PayPal to launch in Bangladesh soon to connect small entrepreneurs with global markets: Governor

Bangladesh Bank Governor Dr Ahsan H. Mansur has announced that the globally recognised digital payment platform PayPal is preparing to begin operations in Bangladesh. This initiative is expected to significantly ease international transactions for small entrepreneurs, online businesses and freelancers. The governor shared the information while speaking as the chief guest at the Agro Award 2025 event organised by Standard Chartered Bank and Channel i, held at the Intercontinental Hotel in Dhaka on Tuesday.

He stated that opening letters of credit through banks is often a major obstacle for small exporters dealing in small consignments. With PayPal’s entry, these entrepreneurs will be able to export goods to Europe, America and other regions more conveniently and bring back their earnings quickly. At present, the absence of a proper international payment gateway often creates barriers for freelancers, including delays and non-payment of legitimate dues. The introduction of PayPal is expected to resolve these issues.

Below is a table highlighting PayPal’s benefits:

The governor also emphasised the need to reduce cash transactions, noting their link to corruption. He mentioned that printing and managing physical currency costs nearly Tk 20,000 crore annually. Bangladesh Bank is therefore taking steps to gradually minimise cash usage. He further urged for an increase in agricultural lending, saying that only 2 percent of total loans currently go to the agricultural sector and this must be raised to at least 10 percent.

During the event, eight individuals and three organisations were awarded for their contributions to the agricultural sector. Winners were selected after assessing more than 500 applications.

Khaborwala/ASN