bKash Limited ( d/b/a: bkash) is a mobile financial service (MFS) in Bangladesh operating under the authority of Bangladesh Bank as a subsidiary of BRAC Bank PLC. This mobile financial service company started as a joint venture between BRAC Bank Limited, and Money in Motion LLC.
bKash Limited ( d/b/a: bkash) is a mobile financial service (MFS) in Bangladesh operating under the authority of Bangladesh Bank as a subsidiary of BRAC Bank PLC. This mobile financial service company started as a joint venture between BRAC Bank Limited, and Money in Motion LLC.
==History== bKash was launched by Kamal Quadir and Iqbal Quadir. In the mid-2000s, mobile financial services, Mobile Service Internet Service, Value Added Service had taken off in the Philippines, Kenya, and other emerging markets when the two Quadir brothers decided to bring it to Bangladesh. In need of a local partner, the Quadir brothers began to engage BRAC's founder, Sir Fazle Hasan Abed, in 2008. Discussions between them and Abed continued over a two-year period. In 2010, they committed to establishing a joint venture between Money in Motion and BRAC Bank. bKash launched on 21 July 2011 in Bangladesh, with basic services: Cash In, Cash Out and Send Money, keeping in mind that more than 70% of the population of Bangladesh lives in rural areas where access to formal banking services is difficult for people. Currently, bKash is serving more than 82M verified users all across Bangladesh.
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