Banglalink secures payment licence in Bangladesh

Banglalink, a leading telecommunications provider in Bangladesh, has been granted a payment licence by the central bank, allowing the company to offer mobile financial services.

The licence, issued by the Bangladesh Bank, enables Banglalink to process transactions such as money transfers, bill payments and merchant settlements via its platform. The move aligns with the country’s push to expand digital payment infrastructure and financial inclusion.

Banglalink, a subsidiary of Malaysian telecom group Axiata, did not disclose further details on the timeline for launching services under the new licence. The company currently operates as a major mobile network operator with over 40 million subscribers.

The central bank’s approval follows a broader regulatory effort to encourage non-bank entities to participate in the digital payments ecosystem. Competitors in the sector, including bKash and Nagad, already dominate the market for mobile financial services in Bangladesh.

Analysts note that the licence could enhance Banglalink’s revenue streams by tapping into the growing demand for digital transactions in a market where cash usage remains prevalent despite rapid smartphone adoption.