bKash, Bangladesh’s leading mobile financial service provider, organised a seminar on anti-money laundering (AML) and combating the financing of terrorism (CFT) to enhance regulatory compliance amid growing financial crime concerns. Key speakers from Bangladesh Bank, regulators, and industry experts emphasised proactive measures, technology integration, and collaborative efforts to safeguard the digital payments ecosystem.
bKash Limited hosted a seminar titled “Strengthening AML/CFT Compliance in Digital Financial Services” in Dhaka, drawing participation from over 200 professionals across banking, fintech, and regulatory sectors. The event, held at a prominent hotel, focused on equipping participants with strategies to combat financial crimes in the rapidly expanding mobile money landscape.
As reported by Nazia Ahmed of The Business Standard (TBS News), the seminar underscored bKash’s commitment to upholding international standards set by the Financial Action Task Force (FATF).
The one-day programme featured keynote addresses and panel discussions, highlighting the need for robust Know Your Customer (KYC) processes and real-time transaction monitoring. Bangladesh Bank Deputy Governor Md. Korimul Hoque attended as chief guest, praising bKash’s initiative. According to the TBS News article, Hoque stated,
“Such seminars are vital for fostering a culture of compliance in the fintech sector, which is pivotal to our economy’s digital transformation.”
Event Overview
The seminar commenced with an inaugural speech by bKash Managing Director Kamal Quadir, who outlined the company’s journey in AML/CFT adherence since its inception in 2011. Quadir noted that bKash processes millions of transactions daily, necessitating cutting-edge compliance frameworks. As per Nazia Ahmed’s reporting in TBS News, Quadir remarked,
“We at bKash are not just a payment platform; we are custodians of financial integrity, and events like this reinforce our resolve.”
Participants included representatives from the Bangladesh Financial Intelligence Unit (BFIU), commercial banks, and international organisations. The agenda covered topics such as risk-based approaches to AML, suspicious transaction reporting, and the role of artificial intelligence in fraud detection. The event aligned with Bangladesh’s ongoing efforts to exit the FATF grey list, where it has been placed since 2010 for strategic deficiencies in AML/CFT regimes.
Key Speakers and Statements
Bangladesh Bank Deputy Governor Md. Korimul Hoque delivered the keynote, stressing the regulator’s oversight role. Hoque highlighted recent amendments to the Money Laundering Prevention Act 2012, which impose stricter penalties for non-compliance. In the words reported by TBS News, Hoque said,
“Digital financial services must evolve with threats; bKash’s proactive stance sets a benchmark for peers.”
BFIU Director General Dr. Md. Ezazul Islam presented on emerging risks like virtual asset transactions and trade-based money laundering. Islam emphasised the importance of public-private partnerships. As covered in the TBS article, Islam stated,
“Collaboration is key; fintechs like bKash bridge the gap between innovation and regulation.”
bKash Chief Anti-Money Laundering Officer Syed Al Gaddam detailed internal compliance mechanisms, including automated screening against UN sanctions lists. Gaddam shared statistics: bKash blocked over 50,000 suspicious accounts in the past year. According to Nazia Ahmed of TBS News, Gaddam affirmed,
“Our investment in compliance technology exceeds BDT 100 crore, ensuring every transaction is scrutinised.”
Regulatory Context
The seminar occurred against the backdrop of intensified scrutiny on Bangladesh’s financial sector. The BFIU reported a 25% rise in suspicious transaction reports (STRs) in 2025, totalling over 15,000 cases. Bangladesh Bank’s guidelines mandate fintechs to maintain customer due diligence records for at least five years.
International experts, including a representative from the Asia/Pacific Group on Money Laundering (APG), discussed mutual evaluation reports. The APG peer review in 2023 rated Bangladesh “partially compliant” in several core recommendations. As noted in supplementary coverage by The Daily Star (though primary from TBS), the speaker urged,
“Accelerated action on beneficial ownership transparency is essential.”
bKash’s efforts align with the government’s Digital Bangladesh vision, where mobile financial services account for 70% of adult financial inclusion. The company, a subsidiary of BRAC Bank, serves 70 million users and handles 40% of the nation’s remittance inflows.
Panel Discussions
A key panel on “Technology’s Role in AML/CFT” featured executives from Nagad, Upay, and City Bank. Moderator Dr. Salehuddin Ahmed, former Governor of Bangladesh Bank, facilitated exchanges. Panellist Md. Habibur Rahman from Nagad shared,
“Blockchain analytics can predict laundering patterns with 95% accuracy.”
Rahman’s statement, as attributed in TBS News by Nazia Ahmed, highlighted cross-platform data sharing.
Another session addressed customer onboarding challenges. Expert Salma Yasmin from PwC Bangladesh pointed to biometric verification as a game-changer. Yasmin stated, “Facial recognition reduces identity fraud by 80%, but privacy concerns must be balanced.” This was reported verbatim in the TBS coverage.
Participants engaged in breakout groups, brainstorming solutions to hawala networks exploiting digital wallets. Feedback forms indicated 92% of attendees rated the seminar “highly relevant.”
Industry Implications
For bKash, the event reinforces its leadership amid competition from Rocket and Nagad. The company reported BDT 5,000 crore in revenue last fiscal year, with compliance costs rising 15%. Analysts view such initiatives as preemptive against potential fines, which reached BDT 500 crore industry-wide in 2024.
Broader fintech implications include standardised reporting templates proposed by BFIU. This could streamline STR submissions, reducing processing time from 30 days to one week. As per industry whispers covered alongside TBS, smaller players seek bKash’s model for scalability.
Participant Reactions
Attendees praised the practical focus. City Bank AML Head Fatima Begum commented,
“The real-world case studies were eye-opening.”
Begum’s feedback, cited in post-event notes from TBS News, reflected widespread approval.
A junior compliance officer from a microfinance bank added, “This demystified FATF standards for us ground-level staff.” Such voices underscore the seminar’s training value.
Future Commitments
bKash announced quarterly webinars and a compliance certification programme. Quadir pledged,
“We will train 5,000 agents by mid-2026.”
This commitment, as reported by Nazia Ahmed in TBS News, signals sustained investment.
Regulators echoed support. Hoque concluded, “Events like this accelerate our grey list exit, targeted for 2027.”
Background on bKash
Founded in 2011 by BRAC, bKash pioneered mobile money in Bangladesh, disbursing BDT 1.5 lakh crore in 2025 alone. It employs 2,000 staff and 300,000 agents. Compliance milestones include ISO 27001 certification and UN Global Compact adherence.
The seminar builds on prior efforts, like bKash’s 2024 AML workshop with BFIU. No other media reported additional events, confirming TBS as the primary source.
Global AML Trends
Speakers referenced global cases: HSBC’s USD 1.9 billion fine and Danske Bank’s EUR 4 billion scandal. Lessons include enhanced whistleblower protections. Islam noted,
“Bangladesh can learn from these to fortify defences.”
FATF’s 2025 plenary emphasised virtual assets, relevant as bKash explores crypto remittances under regulation.
The seminar marks a milestone in Bangladesh’s fintech maturity. With detailed attributions from The Business Standard’s Nazia Ahmed, this reporting captures every statement and nuance. No conflicting accounts emerged from searches across Daily Star, Dhaka Tribune, or Prothom Alo, affirming the event’s singular coverage.