Business

bKash Overview:

bKash is a method of sending money to different locations quickly and easily using the mobile network.

bKash offers a range of products and services, including cash transfers between individuals (P2P) and between businesses/organizations and individuals (B2P), bill payments, merchant payments, airtime purchases, and international remittance payments.

Money can be deposited and withdrawn from mobile accounts at any of bKash’s 85,000 plus agents across Bangladesh. Accounts are tied to individual SIM card numbers and can only be accessed by the user through their personal PIN. Users can dial *247# on any of the four mobile operators to access their account by USSD menu (currently only available in English).

Mobile Banking also known as M-Banking or SMS Banking is a term used for performing balance check, account transactions, payments, credit applications and other banking transactions through a mobile device such as a mobile phone.

bKash Limited, a subsidiary of BRAC Bank, is a joint venture between BRAC Bank Limited,Bangladesh, and Money in Motion LLC, USA. The ultimate objective of bKash is to ensure access to a broader range of financial services for the people of Bangladesh.

BRAC Bank/bKash – BRAC Bank was founded in 2001 by the large development organization BRAC. While BRAC Bank went public after its first three years in operation it remains affiliated with the broader BRAC group. A third generation bank, BRAC Bank has built its profile based on a core business of lending to the SME market, but added more retail and corporate work in recent years.

In 2011 BRAC Bank launched a 51% owned subsidiary called bKash combined with an investment from the USA based Money in Motion. Bangladesh Bank granted permission to BRAC Bank and bKash jointly to operate the MFS business. The MFS guidelines specifically allow...