Dhaka: BRAC Bank has launched ‘Bangla QR’ payment services at BRAC University, a significant advancement in promoting cashless transactions on campus and aligning with Bangladesh Bank’s ‘Cashless Bangladesh’ initiative. Md. Mostaqur Rahman FCMA, Governor of Bangladesh Bank, officially inaugurated the program during a ceremony held at the university.

According to United News of Bangladesh, the initiative allows for financial transactions at BRAC University, such as tuition and academic fees, cafeteria purchases, and retail payments, to be conducted digitally using Bangla QR and other digital banking channels. Bangla QR is designed as an interoperable QR payment platform, enabling customers from various banks and mobile financial service providers to make instant payments using a unified QR code, irrespective of their service provider.

After the inauguration, the central bank governor engaged in an interactive session with students, addressing inquiries regarding Bangla QR, digital payments, and the national initiatives by Bangladesh Bank to develop a cashless economy. Tareq Refat Ullah Khan, Managing Director and CEO of BRAC Bank, expressed that the initiative exemplifies how technology can enhance the simplicity, speed, and security of everyday transactions. He emphasized the bank’s commitment to collaborating with BRAC University in establishing Bangladesh’s first cashless campus and supporting Bangladesh Bank’s vision of a Cashless Bangladesh through innovative digital payment solutions.

Professor Syed Ferhat Anwar, PhD, Vice-Chancellor of BRAC University, highlighted Bangla QR as a progressive step towards fostering a digitally inclusive society. He noted the importance of ensuring widespread access to connectivity and smart devices, which are crucial components of the digital ecosystem for achieving an inclusive society.

The event was organized with the assistance of students from the Finance and Accounting Club of BRAC University (FINACT). A.N.M. Moinul Kabir, Director of Payment Department-1, and Md. Sharafat Ullah Khan, Director of Payment Systems Department-2 of Bangladesh Bank, along with faculty members and students of BRAC University, attended the ceremony.