Weekly Bangla Mirror | Bangla Mirror, Bangladeshi news in UK, bangla mirror news
Global payment gateway PayPal is preparing to begin operations in the country soon, a development that will significantly ease international transactions for the country’s freelancers and small entrepreneurs, Bangladesh Bank Governor Dr Ahsan H Mansur said on Tuesday.
Speaking as the chief guest at Agro Award 2025 event at Dhaka’s InterContinental Hotel, the governor said PayPal has expressed formal interest in operating in Bangladesh.
“Small exporters face difficulties when opening LCs through banks for low-volume shipments. With PayPal in place, they will be able to send products to Europe, the United States and other markets more easily, and receive payments quickly,” the governor said.
He added that the absence of an international payment gateway often forces freelancers and outsourcing professionals to endure delays or even lose their earnings. “Launching PayPal will resolve many of these long-standing issues,” Mansur said.
Highlighting the importance of reducing cash-based transactions, the governor said corruption in Bangladesh is deeply linked to cash dealings. “Where there is corruption, there is cash,” he said, noting that printing and managing currency costs about Tk 20,000 crore annually. The central bank is therefore planning a gradual reduction of cash usage.
PayPal is a leading global digital payment service used for sending and receiving money, paying bills and making online purchases. Connected securely to a user’s bank account or card, it offers fast transactions along with buyer and seller protection features. The platform is widely used in more than 200 countries.
Calling for expanded financial support for agriculture, he said only 2 percent of total lending currently goes to the sector, a figure that should be increased to 10 percent.
He added that although Bangladesh Bank has a Tk 25,000 crore fund for SME loans, weak capacity among banks is hindering effective distribution.
Mansur also highlighted Bangladesh’s progress in food production. After independence in 1971, the country produced 13 million tonnes of food grains; today production has risen to nearly 40 million tonnes. “Our population has doubled, but production has more than tripled. This is a major achievement,” he said.
