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Dhaka, June 24, 2025 – Bangladesh Bank Governor Dr. Ahsan H. Mansur emphasized the importance of maintaining the value of the Bangladeshi Taka and strengthening the banking sector during a speech at an event held at a hotel in the capital. The event also marked the official launch of Google Pay in Bangladesh, facilitated by City Bank PLC in collaboration with Google, Mastercard, and Visa.
Dr. Mansur stated that the value of Bangladesh’s currency would be determined domestically, asserting, “There is no scope for devaluing our currency without justifiable reasons.” He stressed the need for collective efforts to prevent intermediaries from exploiting the system, adding, “Bangladesh’s potential is limitless, but so are the opportunities to squander it.”
Addressing the banking sector, the Governor announced that risk-based supervision would commence in January 2026 to restore discipline. “We have already conducted supervision in 20 banks, and our goal is to ensure the banking sector never reverts to its previous state,” he said. Dr. Mansur also highlighted ongoing efforts to control inflation, noting that it is gradually coming under control, though full stabilization will take more time.
To ensure financial stability, he revealed plans for bank mergers by December 2025, assuring depositors that their interests would be fully protected. “Stay with your banks; your deposits are safe,” he reassured.
The event also celebrated the launch of Google Pay in Bangladesh, with City Bank PLC becoming the first bank to offer the service. The digital payment platform, supported by Google, Mastercard, and Visa, allows City Bank’s Mastercard and Visa cardholders to make seamless, secure, and contactless payments using their Android smartphones via Google Wallet. In the initial phase, only City Bank cardholders can use the service, with plans to include other banks in the future.
The launch ceremony was attended by notable figures, including Tracy Ann Jacobson, Chargé d'Affaires of the U.S. Embassy, and Hasan Khaled, Vice Chairman of City Bank. Masrur Arefin, Managing Director and CEO of City Bank, expressed pride in the partnership, stating, “This collaboration reflects our commitment to building a future-ready digital payment ecosystem in Bangladesh.”
Google Pay enables customers to make fast and secure transactions at point-of-sale (POS) terminals both domestically and internationally by tapping their Android phones, eliminating the need to carry physical cards. The service uses a tokenization system to protect cardholder information and incurs no transaction fees.
