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Let’s Talk on “Cashless Economy” Held at Hajee Mohammad Danesh Science and Technology University (HSTU)

Centre for Research and Information (CRI)’s youth platform Young Bangla organized Let’s Talk on the theme “Cashless Economy” on 18 September 2022 at Hajee Mohammad Danesh Science and Technology University, Dinajpur. Zunaid Ahmed Palak MP, State Minister, ICT Division, Bangladesh; Kazi Nabil Ahmed MP, Member, Parliamentary Standing Committee on the Ministry Finance and Ministry of Foreign Affairs, Bangladesh; Sadequa Hassan Sejuti, Co-founder, Amar Desh, Amar Gram; and Tanjiba Rahman, Chairperson, Bangladesh Freelancer Development Society were present at the event as distinguished panellists.

More than 250 youth participants and students of the university participated in this interdisciplinary and interactive event with the policymakers, entrepreneurs and young leaders. The event began with a welcome remark from the honourable Vice Chancellor of Hajee Mohammad Danesh University of Science and Technology, Dinajpur. Later, the panel discussion began with the opening remarks of the distinguished panellists.

Zunaid Ahmed Palak MP said that the Digital Bangladesh vision is translated into action in his opening remark. Now Bangladesh is eyeing to become Smart Bangladesh. A cashless Economy is a tool to materialize the vision.

“With the direction of the honourable ICT Advisor to HPM, Mr Sajeeb Wazed, we are developing an interoperable digital transaction platform ‘Binimoy’, and it is hoped to accelerate cashless economy all over the country’’- Zunaid Ahmed Palak MP, State Minister, ICT Division, Bangladesh  

Kazi Nabil Ahmed MP said Bangladesh is enjoying the demographic dividend. To optimally realize the potential of demographic dividend and harness the potential, youth has an instrumental role to play. He added that the people are the instrumental tool of a cashless economy and inclusive growth.

 “The people of Bangladesh are instrumental in the country’s transition to a cashless economy and inclusive growth. We are on the verge of a new frontier and we have to embrace this new frontier.” – Kazi Nabil Ahmed MP, Member, Parliamentary Standing Committee on the Ministry Finance and Ministry of Foreign Affairs, Bangladesh

Sadequa Sejuti, an entrepreneur and the panellist of the event said that back in 2008/09, Bangladesh did not have any payment gateway and e-commerce did not exist. With Digital Bangladesh’s materialization, the country now has a national payment gateway system that catalyzed flourishing mobile financial services.

“With a view to become a cashless economy, we have to integrate the rural farmers into cashless transaction where a farmer will be able to earn, spend and save in a cashless manner.’’- Sadequa Hassan Sejuti, Co-founder, Amar Desh, Amar Gram

Tanjiba Rahman, a freelancer and one of the panellists emphasized the importance of freelancing in a cashless society because it is the biggest example of participating in the global economy and created an opportunity to the infrastructural development of this sector. As a result, with the Freelancer National ID, the freelancers are now able to pay taxes and contribute to the GDP of Bangladesh.She also put her thoughts on the adaptation of behavioral shift to a cashless society by increasing digital transactions and by reducing the usage of cash out systems in MFS.

 “We can save a lot of time and hassle by the digital transaction. In exchange, of that time, we can pay a very little amount of service charge. However, if we still don’t want to pay the charges, we need to adopt using digital to digital transactions so that, we don’t have to pay the cash cash-outrages in MFS’’.- Tanjiba Rahman, Chairperson, Bangladesh Freelancer Development Society 

The ICT State Minister promised to make Hajee Mohammad Danesh University the first Cashless Campus in Bangladesh and to take necessary policy initiatives that came from the insights of the students at the discussion round.