|Type of business||Private|
|Key people||Kamal Quadir (CEO)|
|Parent||Brac Bank, Ant Financial, Bill & Melinda Gates Foundation, Money in Motion LLC, International Finance Corporation |
BKash (Bengali: বিকাশ) is a mobile financial service in Bangladesh operating under the authority of Bangladesh Bank as a subsidiary of BRAC Bank Limited. This mobile money system started as a joint venture between BRAC Bank Limited, Bangladesh and Money in Motion LLC, United States of America. bKash users can deposit money into their mobile accounts and then access a range of services, in particular transferring and receiving money domestically, making payments and buying airtime top-up. In April 2013, International Finance Corporation (IFC), a member of the World Bank Group, became an equity partner and in March 2014, Bill & Melinda Gates Foundation became an investor in the company.
Fortune magazine ranked bKash among the top 50 companies in the list of "Change the World" in 2017. According to them, 22% of Bangladeshi adults use bKash with around 4.5 million daily transactions.
bKash was launched on 21 July 2011 in Bangladesh, with basic services: cash in, cash out, send money, airtime top-up and bills payment 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.
bKash can be accessed via several telephone networks in Bangladesh. bKash's agent network covers both urban and rural areas in much of Bangladesh. As of 2018, bKash was the largest provider of mobile financial services (MFS) in Bangladesh.
In June 2017 there were some 17 providers of mobile financial services (MFS), but the two largest, bKash and Rocket, had a combined market share of over 99%. In this month total MFS transactions were in excess of Tk 1,000 crore ($3.68 billion USD).
bKash has requested official permission to provide loan and insurance services.
- Banker, The. "Bangladesh's bKash revolution". www.thebanker.com.
- Al-Mahmood, Syed Zain (24 June 2015). "Mobile Banking Provides Lifeline for Bangladeshis" – via www.wsj.com.
- "Fortune lists bKash among 50 companies that are changing the world". Dhaka Tribune. 11 September 2017. Retrieved 20 September 2017.
- "BRAC Bank's bKash Launches Mobile Banking Services in Bangladesh". Retrieved 2017-07-29.
- "BKASH: TIP OF THE ICEBERG". The Daily Star. 2017-04-07. Retrieved 2017-07-29.
- Administrator. "Information on Mobile Banking". rtn.bcc.net.bd.
- "Loan, insurance services thru' MFS likely within five years". The Financial Express. International Publications Limited. 14 July 2017. Retrieved 26 July 2017.
- Islam, Muhammad Zahidul (July 26, 2017). "Daily transactions reach Tk 1,000cr". The Daily Star. Retrieved 26 July 2017.