Global digital payment service PayPal is planning to start operations in Bangladesh shortly, aiming to connect small entrepreneurs with international markets and facilitate easier sales of their products. Bangladesh Bank Governor Ahsan H Mansur confirmed this on Tuesday (2 December).
Speaking at the Agro Award 2025 ceremony, the governor said, “Through PayPal, small entrepreneurs will be able to sell products to international buyers and receive payments directly. Currently, they cannot follow LC procedures through banks for small consignments, which restricts their ability to trade internationally.”
He added, “With this new international payment platform, sending products to Europe, America, and other countries will be simpler. The absence of such a platform currently causes difficulties for many outsourcing operators in receiving payments, and often, they do not receive full payments.”
PayPal is a global digital payment platform that allows users to send and receive money online, pay bills, and make international purchases. It links securely with users’ banks or cards for fast transactions and provides buyer and seller protection and refund facilities.
PayPal is widely used in over 200 countries for freelancers, online businesses, and international payments. This platform will allow small Bangladeshi entrepreneurs to access foreign markets effectively.
As part of promoting innovation and economic growth, Standard Chartered Bank and Channel i organised the Agro Award 2025. Eight individuals and three organisations were awarded after evaluating over 500 applications.
On cash transactions, the governor noted, “Cash is at the root of corruption. Currently, around Tk 20,000 crore is spent annually on cash handling. We aim to gradually reduce cash transactions.”
Regarding agricultural loans, he stated, “Agricultural loans currently account for only 2% of total loans. To develop the sector, this should rise to 10%.” Bangladesh Bank has a Tk 25,000 crore fund for SME loans, but limited bank capacity hinders full utilisation.
On food grain production, he said, “After independence in 1971, food grain production was 1.3 crore tonnes. Now it has risen to nearly 4 crore tonnes. While population has slightly more than doubled, production has more than tripled, a remarkable achievement.”
Table: PayPal and Economic Data
| Topic | Details |
|---|---|
| PayPal operations | Soon to start in Bangladesh |
| Objective | Connect small entrepreneurs to global markets |
| Benefits | Secure and fast payment processing |
| Global reach | 200+ countries |
| Agro Award 2025 | 8 individuals, 3 organisations awarded |
| Annual cash handling cost | Approx. Tk 20,000 crore |
| Agricultural loans | 2% of total loans, target 10% |
| Food grain production | 1971: 1.3 crore tonnes, Now: 4 crore tonnes |
AJ