BB to conduct study on introducing digital currency en route to cashless society

Bangladesh Bank (BB) will conduct a study on introducing digital currency and blockchain technology in a bid to boost online payments system of the country.

The central bank is also working for a cashless society and touch-free payments.

Finance Minister AHM Mustafa Kamal said this in the budget proposed in parliament for the financial year 2022-23.

He said despite growing risk, digital payment and even the use of digital currencies has been increasing in the global arena.

In this context many central banks around the world are working to launch digital versions of their currencies as an alternative to crypto currencies to meet the need of virtual transactions and to encourage startups and e-commerce businesses.

Bangladesh has made progress in digitalization in various sectors and it is time-befitting steps of introducing digital currencies for the country to meet the requirement, Kamal said.