Over 70% of financial transactions in Bangladesh continue to be conducted through traditional channels despite progress in digital banking, a senior central bank official said.

Bangladesh Bank Executive Director Md Ezazul Islam told a discussion hosted by the Dhaka Chamber of Commerce & Industry (DCCI) that money circulation reached Tk 3.15 lakh crore in August, with Tk 2.87 lakh crore outside the banking system. Only around Tk 29,000 crore was channelled through banks.

“Just 27–28% of financial transactions are now carried out digitally,” he said, urging wider participation in the digital ecosystem.

DCCI President Taskeen Ahmed noted that while mobile financial services have been available since 2011, only 54% of the population uses them. He highlighted cybersecurity concerns, consumer protection gaps, and trust issues as barriers to growth.

ICT Division Secretary Shish Haider Chowdhury said the government is prioritising integration, accessibility, interoperability, and scalability to digitalise banking. He confirmed that a Personal Data Protection Ordinance is expected within a month.

Sanjid Hossain of Robi Axiata estimated that Bangladesh’s digital banking could reach $30 billion, but warned that without stronger cybersecurity, the sector could face risks.

The Asia-Pacific digital banking market, he said, is valued at $4.67 billion in 2025 and projected to grow to $11.23 billion by 2033.