70% transactions will be cashless by 2027: Palak

State Minister for ICT Division Zunaid Ahmed Palak on Monday said the country's 70 per cent of financial transactions will be cashless by 2027.

"As a model district, it will be implemented in Natore 2025," he told a view-exchange meeting with stakeholders in building a cashless Bangladesh, joining online from Natore deputy commissioner's conference room.

Palak said cashless transaction reduces corruption, eliminates terrorism and ensures people's security.

If cashless transactions can be held in any business, including selling of sacrificial animals, the security of businessmen will be ensured, he said.

Before 14 years, the number of internet users in smart devices was 56 lakh which is now 13 crore, the state minister said, adding, "We are making strides to build a 100 per cent cashless Bangladesh by 2041 to make people's financial transactions easier and smoother."

Palak said interoperable digital transaction platform “Binimoy” will be the centre-point for transactions among financial institutions.

Natore Deputy Commissioner Abu Naser Bhuiyan chaired the function, while Superintendent of Police Md Saifur Rahman and Additional Director of the Bangladesh Bank Md Nizam Uddin spoke on the occasion as special guests.