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Reverted 1 edit by Sakib.mahboob (talk): Please STOP adding copyrghted content
m Updated the About, History & Board of Director section of bKash Limited as it was not up to date.
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| logo_caption = Logo since 2010
| logo_caption = Logo since 2010
| image = Shadhinota Tower- Bkash Headquarters (26508944911).jpg
| image = Shadhinota Tower- Bkash Headquarters (26508944911).jpg
| image_caption = bKash Corporate Office
| image_caption = bKash Limited
| type = [[Privately held company|Private]]
| type = [[Limited]]
| founded = {{Start date and age|2010|07|21}}
| founded = {{Start date and age|2011|07|21}}
| founder = [[Kamal Quadir]]
| founder = [[Kamal Quadir, Founder & CEO, bKash Limited]]
| hq_location = Shadhinata Tower, 1, Bir Sreshtha Shaheed Jahangir Gate, Dhaka Cantonment, Dhaka 1206
| hq_location = Shadhinata Tower, 1, Bir Sreshtha Shaheed Jahangir Gate, Dhaka Cantonment
| area_served = Worldwide
| area_served = Bangladesh
| key_people = {{ubl|[[Kamal Quadir]] (CEO)| Mr. Shameran Abed (Chairman) }}
| key_people = {{ubl|[[Kamal Quadir]] (Founder & CEO)}}
| products = bKash Mobile Banking
| services = [[Mobile Financial Service]]
| services = [[Payment system]]
| revenue = {{increase}} {{BDTConvert|33.6|b|lk=yes}} (2022)
| net_income = {{increase}} {{BDTConvert|884.98|m|lk=yes}} (2022)
| assets = {{profit}} {{BDTConvert|102|b|lk=yes}} (2022)
| equity = {{profit}} {{BDTConvert|30.46|b|lk=yes}} (2022)
| num_employees = 3,115
| parent = [[BRAC Bank]], [[Ant Financial]], [[Bill & Melinda Gates Foundation]], Money in Motion LLC, [[International Finance Corporation]], [[SoftBank]]<ref>{{cite web|url=https://www.bkash.com/node/2473|title=bKash and Ant Financial in strategic partnership to promote financial inclusion for the unbanked in Bangladesh |website=bKash |access-date=26 February 2019}}</ref>
| website = {{URL|https://bkash.com}}
| website = {{URL|https://bkash.com}}
}}
}}


'''bKash''' ({{lang-bn|বিকাশ}}) is a mobile financial service in [[Bangladesh]] operating under the authority of [[Bangladesh Bank|Bangladesh Bank.]] Launched in 2011, bKash Limited, a joint venture of BRAC Bank, US based Money in Motion LLC, International Finance Corporation of the World Bank Group, Bill and Melinda Gates Foundation, Ant Group, and SoftBank Vision Fund, offers broad range of digital financial services under the regulation of Bangladesh Bank.
'''bKash''' ({{lang-bn|বিকাশ}}) is a mobile financial service in [[Bangladesh]] operating under the authority of [[Bangladesh Bank]] as a subsidiary of [[BRAC Bank Limited]].<ref>{{cite magazine |url=http://www.thebanker.com/Banking-Regulation-Risk/Bangladesh-s-bKash-revolution|title=Bangladesh's bKash revolution |magazine=The Banker}}</ref> This mobile money system service company started as a [[joint venture]] between [[BRAC Bank Limited]], [[Government of Bangladesh]], and Money in Motion LLC.<ref>{{Cite web|title=Business Model of bKash|url=https://mittalsouthasiainstitute.harvard.edu/wp-content/uploads/2014/08/Session-II-Huda-bKash.pdf}}</ref> As a mobile financial service (MFS) provider in [[Bangladesh]], bKash users can deposit money into their mobile accounts and then access a range of services. In particular, transferring and receiving money domestically and making payments. Services like mobile recharge or paying utility bills are also possible through bKash USSD (*247#) and bKash App. A user can receive [[remittance]] on bKash.<ref>{{Cite web |last1=Harmachi |first1=Abdur Rahim |last2=Correspondent |first2=Chief Economics |last3=bdnews24.com |title=1% bonus on bKash remittance along with 2% govt incentive |url=https://bdnews24.com/business/2020/12/06/1-bonus-on-bkash-remittance-along-with-2-govt-incentive |access-date=2022-04-11 |website=bdnews24.com}}</ref> In November 2021, '''bKash''' became the first ever [[Unicorn (finance)|unicorn]] [[Startup company|startup]] (a startup whose valuation is $1 billion or more) company in Bangladesh.<ref>{{Cite web |date=2021-12-31 |title=Startups that made headlines this year |url=https://www.thedailystar.net/next-step/news/startups-made-headlines-year-2929066 |access-date=2022-04-11 |website=The Daily Star |language=en}}</ref><ref>{{Cite web |date=2021-11-14 |title=bKash set to reach $2bn mark in valuation |url=https://bizdatainsights.com/bkash-becomes-countrys-first-official-unicorn-startup/ |access-date=2022-04-11 |website=BizData Insight |language=en-US}}</ref><ref>{{Cite web |date=2021-11-14 |title=SoftBank investment to raise bKash's valuation to $2bn |url=https://www.tbsnews.net/economy/softbank-investment-raise-bkashs-valuation-2bn-329299 |access-date=2022-04-11 |website=The Business Standard |language=en}}</ref>


With a network of 330,000 agents, 550,000 merchants and 67 million customers till now, bKash has built a robust ecosystem. bKash’s variety of services include Send Money, Cash In, Cash Out, Mobile Recharge, payment, remittance, utility bill payment, Add Money, Transfer Money, e-Ticketing, Digital Nano Loan of bank, Savings of financial institution, insurance payment, disbursement of allowance and salary, Donation, Personal Retail Account, Business Dashboard, etc.
[[Fortune (magazine)|Fortune magazine]] ranked bKash among the top 50 companies in their ''Change the World'' list in 2017.<ref name="fortune">{{cite news|url=http://www.dhakatribune.com/what-the-world-says/2017/09/11/fortune-bkash-changing-world/|title=Fortune lists bKash among 50 companies that are changing the world|date=11 September 2017|access-date=20 September 2017|newspaper=Dhaka Tribune}}</ref> According to Fortune, 22% of [[Bangladeshis|Bangladeshi]] adults use bKash with around 4.5 million daily transactions.<ref name="fortune" /> [[Asiamoney]] magazine declared bKash as the Best Digital Bank (2018). World HRD Congress declared it as one of Asia's best employers in 2017. [[File:Gulshan_1_(49579118177).jpg|thumb|A bkash agent shop at Gulshan 1, Dhaka, Bangladesh.]]

In 2017, bKash was ranked as the 23rd company in the annual list of Fortune Magazine's ‘Change the World in 2017’ among top 50 companies for making changes based on social issues. bKash has been recognized as the Best Brand of Bangladesh for four consecutive times from 2019 to 2022 through consumer surveys conducted by Bangladesh Brand Forum. bKash also emerged as no. 1 “Employer of Choice” for three years in a row from 2020 to 2022 according to Nielson’s Campus Track Survey.[[File:Gulshan_1_(49579118177).jpg|thumb|A bkash agent shop at Gulshan 1, Dhaka, Bangladesh.]]


==History==
==History==
Ever since the inception, financial inclusion has been in the DNA of bKash. The company started its journey to bring the unbanked population under formal financial channels. After a decade of being the pioneer in conceptualising, innovating, building, and sustaining the MFS industry in Bangladesh, as well as the region, the journey of bKash continues to become more exciting. Starting from the low-income masses to the tech-savvy urban customers, bKash serves all segments of people to help achieve broader financial inclusion by providing innovative services that are convenient, affordable, secured, and reliable.
bKash was launched by [[Kamal Quadir]] and [[Iqbal Quadir]]. In the mid-2000s, mobile financial services 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, [[Fazle Hasan Abed|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.<ref>{{Cite web|title=IFC Inclusive Business Case Study {{!}} bKash|url=https://www.ifc.org/wps/wcm/connect/62b9cc8b-419c-433d-bf10-e880a2559d09/bKash_Builtforchangereport.pdf?MOD=AJPERES&CVID=lv1KPMb|website=IFC.org}}</ref> bKash launched in 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 [[bank]]ing services is difficult for people.<ref>{{Cite news|url=http://www.brac.net/latest-news/item/463-|title=BRAC Bank's bKash Launches Mobile Banking Services in Bangladesh|work=brac|access-date=2017-07-29|language=en-gb}}</ref><ref>{{Cite news|url=http://www.thedailystar.net/next-step/features/bkash-of-tip-the-iceberg-1387663|title=bKash: Tip of the Iceberg|date=7 April 2017|work=The Daily Star|access-date=2017-07-29|language=en}}</ref> More user-demanded services like airtime top-up, bills payment, train-movie ticket purchase were introduced over its span. Now it has its own mobile application, it has been recognized as the best innovation at the Financial Innovation Category in Bangladesh Innovation Award 2018 for its simplified and useful features.<ref>{{Cite news |url=https://www.dhakatribune.com/business/2018/10/23/bkash-wins-best-financial-innovation-award|title=BKash wins Best Financial Innovation award|date=2018-10-23|work=Dhaka Tribune|access-date=2019-11-18}}</ref>


bKash started operating by addressing customers’ pain points of sending and receiving money along with the facility to get cash out at agent points. Gradually, it introduced more customer-focused services including: mobile phone recharge (mobile phone users can top-up), merchant payment, remittance, utility bill payment, bank to bKash and bKash to bank money transfer (Add Money, Transfer Money), paperless self-registration solution eKYC (Electronic Know Your Customer), e-ticketing, Digital Nano Loan, Savings scheme of banks and financial institutions, fee payment of government services and educational institutions, insurance payment, disbursement of allowance and salary, payroll disbursement solution, donation, Personal Retail Account (PRA), business dashboard, and payment facilities for freelancers.
bKash started in 2011 as a joint venture between BRAC Bank Limited, Bangladesh, and Money in Motion LLC, United States of America. In April 2013, International Finance Corporation (IFC), a member of the [[World Bank Group]], became an equity partner, in March 2014, [[Bill & Melinda Gates Foundation]] became an investor in the company,<ref>{{cite news |last=Al-Mahmood|first=Syed Zain|date=24 June 2015|title=Mobile Banking Provides Lifeline for Bangladeshis|url=https://www.wsj.com/articles/mobile-banking-provides-lifeline-for-bangladeshis-1435043314|work=The Wall Street Journal}}</ref> and in April 2018 [[Ant Financial]], the operators of [[Alipay]] (an affiliate company of Chinese giant [[Alibaba Group]]), became an equity partner,<ref>{{cite news|date=27 April 2018|title=Alibaba buys 20pc stake in bKash|url=https://www.thedailystar.net/business/alibaba-buys-20pc-stake-bkash-1568293|work=The Daily Star}}</ref> announced a strategic partnership to promote financial inclusion for the unbanked and underbanked communities in Bangladesh. Later, in November 2021, bKash announced an investment from SoftBank Vision Fund 2<ref>{{Cite web|date=2021-11-14|title=SoftBank investment to raise bKash's valuation to $2bn|url=https://www.tbsnews.net/economy/softbank-investment-raise-bkashs-valuation-2bn-329299|access-date=2022-01-16|website=The Business Standard|language=en}}</ref> to promote financial inclusion by building a digital financial ecosystem in [[Bangladesh]].


In 2018, bKash launched the customer app to cater to the needs of tech-savvy customers. The robust yet smooth bKash app is one of the most used apps in the country. With the start of the pandemic and sudden lockdowns, bKash became an alternative lifeline for financial transactions.
⚫
'''Board of Directors'''


⚫
'''Board of Directors'''
Shameran Abed is the chairman.<ref>{{Cite news |date=2020-10-29|title=Shameran Abed re-elected as bKash Chairman|url=http://tbsnews.net/companies/shameran-abed-re-elected-bkash-chairman-151420|access-date=2020-12-24|work=The Business Standard|language=en}}</ref> He is a senior director at BRAC. Other members of the bKash board include [[Ant Group]] nominees Gouming Cheng and Kai Nin Kenny Man; BRAC Bank nominees Selim R F Hussain,<ref>{{Cite web|title=BRACBANK.BD Company Profile & Executives - BRAC Bank Ltd. |url=https://www.wsj.com/market-data/quotes/BD/XDHA/BRACBANK/company-people/executive-profile/74025876|access-date=2020-12-30|website=The Wall Street Journal}}</ref> K Mahmood Sattar, Meheriar M. Hasan, Asif Saleh,<ref>{{Cite web|title=BRAC: Executive Management|url=http://www.brac.net/executive-body|access-date=2022-01-16|website=www.brac.net|language=en-gb}}</ref> Fahima Choudhury, and Ryan Gilbert; International Finance Corporation (IFC) nominee Shinya Yoshino; Money in Motion nominee Nicholas Hughes, and SoftBank nominees Jason Park and Chris Lee.


* Shameran Abed, Chairman
==See also==
* Selim Reza Farhad Hussain, Director
* [[Nagad]]
* Meheriar M. Hasan, Director
* Asif Saleh, Director
* Fahima Choudhury, Director
* Nicholas Hughes, Director
* Shinya Yoshino, Director
* Guoming Cheng, Director
* Jason Park, Director
* Chris Lee, Director
* Anita Ghazi Rahman, Director
* Douglas Feagin, Director
* Dr. Jamaluddin Ahmed, FCA, Director
* Gregory C. Chen, Director


==References==
==References==

Revision as of 13:03, 30 April 2023


bKash
Company typeLimited
FoundedJuly 21, 2011; 13 years ago (2011-07-21)
FounderKamal Quadir, Founder & CEO, bKash Limited
HeadquartersShadhinata Tower, 1, Bir Sreshtha Shaheed Jahangir Gate, Dhaka Cantonment
Area served
Bangladesh
Key people
ServicesMobile Financial Service
Websitebkash.com

bKash (Bengali: বিকাশ) is a mobile financial service in Bangladesh operating under the authority of Bangladesh Bank. Launched in 2011, bKash Limited, a joint venture of BRAC Bank, US based Money in Motion LLC, International Finance Corporation of the World Bank Group, Bill and Melinda Gates Foundation, Ant Group, and SoftBank Vision Fund, offers broad range of digital financial services under the regulation of Bangladesh Bank.

With a network of 330,000 agents, 550,000 merchants and 67 million customers till now, bKash has built a robust ecosystem. bKash’s variety of services include Send Money, Cash In, Cash Out, Mobile Recharge, payment, remittance, utility bill payment, Add Money, Transfer Money, e-Ticketing, Digital Nano Loan of bank, Savings of financial institution, insurance payment, disbursement of allowance and salary, Donation, Personal Retail Account, Business Dashboard, etc.

In 2017, bKash was ranked as the 23rd company in the annual list of Fortune Magazine's ‘Change the World in 2017’ among top 50 companies for making changes based on social issues. bKash has been recognized as the Best Brand of Bangladesh for four consecutive times from 2019 to 2022 through consumer surveys conducted by Bangladesh Brand Forum. bKash also emerged as no. 1 “Employer of Choice” for three years in a row from 2020 to 2022 according to Nielson’s Campus Track Survey.

A bkash agent shop at Gulshan 1, Dhaka, Bangladesh.

History

Ever since the inception, financial inclusion has been in the DNA of bKash. The company started its journey to bring the unbanked population under formal financial channels. After a decade of being the pioneer in conceptualising, innovating, building, and sustaining the MFS industry in Bangladesh, as well as the region, the journey of bKash continues to become more exciting. Starting from the low-income masses to the tech-savvy urban customers, bKash serves all segments of people to help achieve broader financial inclusion by providing innovative services that are convenient, affordable, secured, and reliable.

bKash started operating by addressing customers’ pain points of sending and receiving money along with the facility to get cash out at agent points. Gradually, it introduced more customer-focused services including: mobile phone recharge (mobile phone users can top-up), merchant payment, remittance, utility bill payment, bank to bKash and bKash to bank money transfer (Add Money, Transfer Money), paperless self-registration solution eKYC (Electronic Know Your Customer), e-ticketing, Digital Nano Loan, Savings scheme of banks and financial institutions, fee payment of government services and educational institutions, insurance payment, disbursement of allowance and salary, payroll disbursement solution, donation, Personal Retail Account (PRA), business dashboard, and payment facilities for freelancers.

In 2018, bKash launched the customer app to cater to the needs of tech-savvy customers. The robust yet smooth bKash app is one of the most used apps in the country. With the start of the pandemic and sudden lockdowns, bKash became an alternative lifeline for financial transactions.

Board of Directors

  • Shameran Abed, Chairman
  • Selim Reza Farhad Hussain, Director
  • Meheriar M. Hasan, Director
  • Asif Saleh, Director
  • Fahima Choudhury, Director
  • Nicholas Hughes, Director
  • Shinya Yoshino, Director
  • Guoming Cheng, Director
  • Jason Park, Director
  • Chris Lee, Director
  • Anita Ghazi Rahman, Director
  • Douglas Feagin, Director
  • Dr. Jamaluddin Ahmed, FCA, Director
  • Gregory C. Chen, Director

References

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