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BKash logo.svg
Type of businessPrivate
HeadquartersShadhinata Tower, 1, Bir Sreshtha Shaheed Jahangir Gate, Dhaka Cantonment, Dhaka 1206, Bangladesh All the country. There more than 50k agents in Bangladesh.
Key people
ServicesPayment system
RevenueIncrease 26.245 billion (US$310 million) (2020)
Total assetsIncrease 61.356 billion (US$730 million) (2020)
Total equityDecrease 9.269 billion (US$110 million) (2020)
ParentBRAC Bank Limited, Brac Bank, Ant Financial, Bill & Melinda Gates Foundation, Money in Motion LLC, International Finance Corporation[1]
Current statusActive

bKash (Bengali: বিকাশ) is a mobile financial service in Bangladesh operating under the authority of Bangladesh Bank as a subsidiary of BRAC Bank Limited.[3] This mobile money system started as a joint venture between BRAC Bank Limited, Bangladesh and Money in Motion LLC, United States of America.[4] As a mobile financial service (MFS) provider in Bangladesh through 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. Services like mobile recharge or paying utility bills are also possible through bKash USSD (*247#) and bKash App. A user can receive money from overseas on bKash.[5]

Fortune magazine ranked bKash among the top 50 companies in their Change the World list in 2017.[6] According to Fortune, 22% of Bangladeshi adults use bKash with around 4.5 million daily transactions.[6] Asiamoney magazine declared bKash as the Best Digital Bank(2018). World HRD Congress declared it as one of Asia's best employees in 2017.

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


bKash was launched by Kamal Quadir and Iqbal Quadir. In 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, 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.[7] bKash launched in 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.[8][9] 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.[10]

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,[11] and in April 2018 Ant Financial, the operators of Alipay (an affiliate company of Chinese giant Alibaba Group), became an equity partner,[12] 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[13] to promote financial inclusion by building a digital financial ecosystem in Bangladesh. The funds from this investment is supposed to provide support for bKash’s existing robust and customer-friendly platform, increase digital adoption and help users experience best technology available in the world. The mission of the company is, to be the preferred financial services provider for all walks of life by providing affordable and innovative services that empower lives.

Board of Directors

Shameran Abed is the chairman.[14] 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,[15] K Mahmood Sattar, Meheriar M. Hasan, Asif Saleh,[16] 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.


  • The Manthan Award (Winner, 2014)[17]
  • Commward Integrated Campaign (Gold, 2016)
  • Best MFS Brand Award (Brand Forum, 2017)
  • Asia's Best Employer Brand Award (HR Congress, 2017)
  • 23rd Change the World Award, Fortune[18]
  • Nielsen Campus Track Survey (B-School) Dream Employer Award
  • Best Innovation Financial Sector (Bangladesh Innovation Award, 2018)[19]
  • Brand Award (Best and Number One Financial App, Best brand in MFS, 5th among most loved brands, 2018)
  • Brand Award (Best brand in MFS, 1st among most loved brands, 2019)
  • Brand Award (Overall Best Brand, 2020)[20]
  • Iconic Company 2021 [21]
  • Bangladesh Fintech Award 2021 (Best Innovation in Technology, Remittance, Payment and Mobile Money)[22]
  • Brand Award (Overall Best Brand, Most loved brand under MFS category, 2021) [23]

See also[edit]


  1. ^ "bKash and Ant Financial in strategic partnership to promote financial inclusion for the unbanked in Bangladesh". bKash. Retrieved 26 February 2019.
  2. ^ "Annual Report 2020" (PDF). bKash. Retrieved 22 May 2021.
  3. ^ "Bangladesh's bKash revolution". The Banker.
  4. ^ "Business Model of bKash" (PDF).
  5. ^ Harmachi, Abdur Rahim. "1% bonus on bKash remittance along with 2% govt incentive". bdnews24.com. Retrieved 30 December 2020.
  6. ^ a b "Fortune lists bKash among 50 companies that are changing the world". Dhaka Tribune. 11 September 2017. Retrieved 20 September 2017.
  7. ^ "IFC Inclusive Business Case Study | bKash" (PDF). IFC.org.
  8. ^ "BRAC Bank's bKash Launches Mobile Banking Services in Bangladesh". brac (in British English). Retrieved 29 July 2017.
  9. ^ "bKash: Tip of the Iceberg". The Daily Star. 7 April 2017. Retrieved 29 July 2017.
  10. ^ "BKash wins Best Financial Innovation award". Dhaka Tribune. 23 October 2018. Retrieved 18 November 2019.
  11. ^ Al-Mahmood, Syed Zain (24 June 2015). "Mobile Banking Provides Lifeline for Bangladeshis". The Wall Street Journal.
  12. ^ "Alibaba buys 20pc stake in bKash". The Daily Star. 27 April 2018.
  13. ^ "SoftBank investment to raise bKash's valuation to $2bn". The Business Standard. 14 November 2021. Retrieved 16 January 2022.
  14. ^ "Shameran Abed re-elected as bKash Chairman". The Business Standard. 29 October 2020. Retrieved 24 December 2020.
  15. ^ "BRACBANK.BD Company Profile & Executives - BRAC Bank Ltd". The Wall Street Journal. Retrieved 30 December 2020.
  16. ^ "BRAC: Executive Management". www.brac.net (in British English). Retrieved 16 January 2022.
  17. ^ "BRAC Manthan Digital Innovation Award 2016". www.brac.net (in British English). Retrieved 24 December 2020.
  18. ^ "bKash ranked 23rd on Fortune's 'Change the World' list". The Daily Star. 15 September 2017. Retrieved 24 December 2020.
  19. ^ "Bangladesh Innovation Award 2018". BBF Digital (in American English). 21 October 2018. Retrieved 24 December 2020.
  20. ^ "bKash ranked top at Best Brand Award". The Business Standard (in American English). 31 December 2020. Retrieved 17 November 2021.
  21. ^ "bKash receives 'Iconic Company' award". The Business Standard (in American English). 15 March 2021. Retrieved 17 November 2021.
  22. ^ sun, daily. "bKash gets Bangladesh Fintech Award | Daily Sun |". daily sun. Retrieved 16 January 2022.
  23. ^ "bKash bags Best Brand award for three consecutive years". The Business Standard. 30 December 2021. Retrieved 16 January 2022.

External links[edit]