bKash (Ofer Abarbanel online library)

bKash (Bengali: বিকাশ) is a mobile financial service in Bangladesh operating under the authority of Bangladesh Bank as a subsidiary of BRAC Bank Limited.

[2] This mobile money system started as a joint venture between BRAC Bank Limited, Bangladesh and Money in Motion LLC, United States of America.[3] 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 and can recharge prepaid mobiles easily. Also, They can pay mobile postpaid bills. Customers can avail bKash services including cash-in, cash-out, mobile recharge, paying utilities bill by dialing *247# and by using bKash App.[4] 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.


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 establish 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 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. 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.[13] He is a senior director at BRAC. Other members of the bKash board include Gouming Cheng, nominee director of Ant Group, BRAC Bank nominees Selim R F Hussain,[14] K Mahmood Sattar, Barrister Nihad Kabir[15] and Ryan Gilbert, Money in Motion nominees Nicholas Hughes[16] and Arun Gore,[17] IFC nominee Andi Dervishi[18] and Ant Group nominee Kenny Man.[19]


  • The Manthan Award (Winner, 2014)[20]
  • 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[21]
  • Nielsen Campus Track Survey (B-School) Dream Employer Award
  • Best Innovation Financial Sector (Bangladesh Innovation Award, 2018)[22]
  • 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)


  1. ^“bKash and Ant Financial in strategic partnership to promote financial inclusion for the unbanked in Bangladesh – bKash”. www.bkash.com. Retrieved 26 February 2019.
  2. ^“Bangladesh’s bKash revolution”. The Banker.
  3. ^“Business Model of bKash” (PDF).
  4. ^“bKash wants to ride the wave of remittance”. Dhaka Tribune. 6 December 2020. Retrieved 26 December 2020.
  5. ^Harmachi, Abdur Rahim; Correspondent, Chief Economics; bdnews24.com. “1% bonus on bKash remittance along with 2% govt incentive”. bdnews24.com. Retrieved 30 December 2020.
  6. ^ Jump up to:ab “Fortune lists bKash among 50 companies that are changing the world”. Dhaka Tribune. 11 September 2017. Retrieved 20 September 2017.
  8. ^“BRAC Bank’s bKash Launches Mobile Banking Services in Bangladesh”. brac. 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. ^“Shameran Abed re-elected as bKash Chairman”. The Business Standard. 29 October 2020. Retrieved 24 December2020.
  14. ^“BRACBANK.BD Company Profile & Executives – BRAC Bank Ltd. – Wall Street Journal”. www.wsj.com. Retrieved 30 December 2020.
  15. ^Today, I. C. E. (8 March 2020). “Barrister Nihad Kabir, on her Journey of Success”. ICE Today. Retrieved 30 December 2020.
  16. ^“Founder Story: Meet Nick Hughes, founder of African mobile money giant, M-PESA, and clean energy provider, M-KOPA Solar – Social Impact Club”. clubs.london.edu. Retrieved 30 December 2020.
  17. ^“Q&A With Arun Gore Of Gray Ghost Ventures: ‘Social Impact Needs Scale'”. Forbes. Retrieved 30 December 2020.
  18. ^“The fintech revolution is here, says IFC”. www.globalcapital.com. Retrieved 30 December 2020.
  19. ^“Shameran Abed re-elected as bKash chairman”. New Age | The Most Popular Outspoken English Daily in Bangladesh. Retrieved 24 December 2020.
  20. ^“BRAC Manthan Digital Innovation Award 2016”. www.brac.net. Retrieved 24 December 2020.
  21. ^“bKash ranked 23rd on Fortune’s ‘Change the World’ list”. The Daily Star. 15 September 2017. Retrieved 24 December 2020.
  22. ^“BANGLADESH INNOVATION AWARD 2018”. BBF Digital. 21 October 2018. Retrieved 24 December 2020.

Ofer Abarbanel – Executive Profile

Ofer Abarbanel online library

Ofer Abarbanel online library

Ofer Abarbanel online library

Ofer Abarbanel online library