DHAKA, April 1, (V7N) — Bangladesh Bank Governor Md Mostaqur Rahman today emphasized the urgent need for a rapid transition toward a cashless economy, identifying the “Bangla QR” payment system as the cornerstone of the central bank’s modernization drive.

“The central bank is prioritizing the expansion of cashless transactions to enhance revenue collection. The ‘Bangla QR’ code system as the national standard for digital payments is central to this initiative,” he told business editors during a meeting at the Bangladesh Bank headquarters.

The governor sought recommendations on navigating the domestic economy amid global challenges, reiterating the central bank’s commitment to modernization and rigorous internal oversight. He noted that he has initiated an administrative crackdown, involving regular follow‑ups with every department, and stressed strict adherence to established standards to ensure accountability and eliminate corruption.

On the broader economy, Governor Rahman sounded a note of caution. While foreign exchange reserves remain stable, he observed that almost every other primary economic indicator is on a downward trajectory, putting pressure on overall stability. He underscored the need for immediate and coordinated intervention to address the decline.

Caption: Bangladesh Bank Governor Md Mostaqur Rahman urges rapid shift to cashless economy, highlights Bangla QR as national standard for digital payments.