Experts and stakeholders in Bangladesh’s fintech sector have urged the government to establish a ‘Fintech Forum’ to foster a broader ecosystem and data-driven services aimed at accelerating financial inclusion.
They also stressed the need for a stable regulatory framework and consistent policies to support innovation.
The calls came at a panel discussion titled ‘How to Build a Thriving Fintech Ecosystem in Bangladesh’ during the 5th Bangladesh Fintech Summit, organised by Mastercard in association with Prime Bank at a city hotel on Saturday.
Mohammad Firoz Kabir, chief digital and innovation officer at Akij Resources, said Bangladesh’s current consent and identification models need modernisation to enable safe, seamless data sharing among banks, mobile financial services, and fintech companies.
He proposed forming a ‘Fintech Forum’ with representatives from the Bangladesh Bank, banks, customers, and other service providers to ensure accountability and skills development.
‘We are also working to include rural people and migrants in our proposed digital bank by educating them,’ he added.
United Commercial Bank managing director and CEO Mohammad Mahmudur Rashid said inefficiency must be addressed to better reach customers.
‘Many letters of credit and back-office processes remain manual. Introducing shared Software-as-a-Service platforms could significantly reduce processing time and costs,’ he said.
Mohammad Ali, managing director and CEO of Pubali Bank PLC, pointed out governance challenges in the sector.
‘With economic advancement, Bangladesh would experience digital currencies and other innovations, and strong governance and a consistent regulatory framework are essential,’ he said.
He added that banks and MFS providers should collaborate rather than compete.
‘Banks excel in credit and deposits, while MFS dominates payments and last-mile access; together, they can transform the ecosystem,’ he added.
Sazzad Haider Chowdhury, deputy managing director of Prime Bank, emphasised that a stable regulatory framework is crucial for innovation.
‘Security breaches should lead to stronger safeguards, not the shutdown of critical services,’ he said, calling for a balance between risk management and growth.
They also said that while payment systems have expanded rapidly, the next phase of fintech development should focus on digital credit, micro-savings, and alternative data systems to serve underserved populations.
They also noted that older, wealthier users still prefer human interaction, while younger users favour fully digital experiences; both groups need to be accommodated.
ICT Division secretary Shish Haider Chowdhury inaugurated the summit as the chief guest.
He said building a strong and inclusive fintech landscape requires innovation, policy readiness, and trust.
‘With collective effort and a clear vision, Bangladesh can confidently step forward into the global digital economy,’ he said.
Shariful Islam, founder and managing director of Bangladesh Brand Forum, said the country’s fintech sector is evolving rapidly.
‘This summit brings together the people who will shape its next chapter,’ he said.
The summit featured three keynote sessions, three panel discussions, two insight sessions, and one case study, offering a comprehensive view of the country’s fintech landscape.
Bank professionals, researchers, and academicians also took part in the event.