DHAKA, Jan 08, 2026 (BSS) - The Policy Research Institute of Bangladesh (PRI), with support from the Gates Foundation, today hosted a stakeholder consultation workshop titled “Toward a Cashless Economy: A Strategic Roadmap for Bangladesh” at the conference room of PRI.  The workshop brought together policymakers, regulators, economists, financial sector representatives, and development partners to discuss pathways, challenges, and policy priorities for advancing digital and cashless transactions in Bangladesh, said a press release. In a presentation, PRI showed that Bangladesh has made notable progress in digital payments, led by mobile financial services, QR payments, and online banking, yet it remains largely cash-dependent. It identified major constraints, including limited interoperability, infrastructure gaps, cyber security risks, and low digital literacy.  The study emphasized financial inclusion, reduced transaction costs, and improved economic governance as the core benefits of a cashless transition. Global and regional experiences showed the importance of strong digital public infrastructure and coordinated regulation. The proposed roadmap recommends phased reforms, stronger regulatory coordination, expanded digital infrastructure, consumer protection, and fintech innovation to enable an inclusive and secure move toward a cashless economy. Arief Hossain Khan, Executive Director of Bangladesh Bank, graced the event as the chief guest.  In his remarks, he highlighted, “Bangladesh Bank is actively pursuing initiatives to promote digital payments, financial inclusion, and a secure payment ecosystem. Success in our transition toward a cashless economy depends on strong coordination among regulators, financial institutions, and technology providers to ensure it is inclusive for all.” The session was chaired by Dr. Zaidi Sattar, Chairman of PRI, who, in his opening remarks, emphasized that human civilization has come full circle in its modes of exchange. “When homo sapiens (humans) first inhabited the planet Earth, all transactions were in barter. Money (cash) was a big invention. After many thousand years, cash has become cumbersome for financial transactions, so we are moving towards a cashless society again,” he added. He said that three factors determine GDP growth: labor force growth, capital investment, and productivity growth.  “The cashless economy contributes to productivity growth, but the valuations generated within the cashless economy must be captured. To reflect digital advancements in national production, the Bangladesh Bureau of Statistics (BBS) needs to adopt the UN System of National Accounts (UN SNA) 2025 to appropriately incorporate the value added by digital and cashless transactions into the GDP growth. This process will take at least three years. Cooperation among the Bangladesh Bank, BBS, and research organizations will be required, including access to relevant data from the Bangladesh Bank,” he added. The keynote presentation was delivered by Dr. Ashikur Rahman, Principal Economist at PRI.  He said, “Today, we convened the first consultation meeting to initiate the development of a strategic roadmap for accelerating Bangladesh’s transition to a cashless economy, drawing lessons from experiences in China and India.” “The cashless agenda must now be elevated to a national development priority. Digital and cashless instruments are no longer peripheral innovations; they are powerful enablers of financial inclusion, Policy Research Institute of Bangladesh economic governance, and a low-transaction-cost economy. When designed and deployed well, they can extend formal financial services to underserved populations, reduce informality, improve transparency, and strengthen state capacity.” He added, “Our objective is to move beyond aspiration and produce a pragmatic, execution-ready action plan—one that policymakers, regulators, and technology partners can realistically implement. The focus is on identifying concrete reforms, sequencing priorities, and aligning public and private capabilities to give this agenda real momentum. If Bangladesh is to sustain inclusive growth in an increasingly digital global economy, the transition to cashless finance must be deliberate, coordinated, and time-bound. This consultation marks the first step toward that goal.”  An open floor discussion followed, where participants shared insights on issues such as merchant adoption, cost of digital transactions, cybersecurity risks, rural outreach, and the role of fintech innovation. The discussion reflected a strong consensus on the need for collaborative action among the government, central bank, private sector, and development partners. The workshop concluded with closing remarks by Dr. Khurshid Alam, Executive Director of PRI, who thanked the Chief Guest, chair, speakers, and participants for their valuable contributions.  He reiterated PRI’s commitment to evidence-based policy dialogue and research to support Bangladesh’s digital transformation agenda. Dr. Bazlul H. Khondker, Research Director of PRI, was also presented at the workshop.