PM welcomes Visa’s investment in digital economy

Prime Minister Tarique Rahman on Tuesday welcomed greater private-sector partnership in Bangladesh’s digital financial services and technology sectors as Visa expressed interest in expanding its investment and business operations in the country.

Visa Asia-Pacific President Stephen Karpin paid a courtesy call on the Prime Minister at the Cabinet Division at the Bangladesh Secretariat where they discussed investment, digital payments, technology and innovation.

During the meeting, the Prime Minister invited Visa to establish a technology development centre or global service centre in Bangladesh to create employment opportunities.

He also stressed the importance of cooperation from international companies such as Visa in strengthening the country’s digital economy, investment and technological capacity, said PM’s Deputy Press Secretary Shahadat Shadhin.

He said the two sides discussed developing an effective digital payment system to help Bangladeshi freelancers bring their foreign earnings into the country safely and conveniently.

Karpin expressed Visa’s interest in investing and expanding its business in Bangladesh, saying there is significant potential to work in digital financial services, technology and innovation, said

He said Visa wants to work through investment and technological cooperation to encourage bank account holders who do not currently use cards to adopt card-based payments and expand the use of digital transactions.

“Visa is also interested in using artificial intelligence to make Bangladesh’s banking and digital payment systems safer, easier and faster,” Karpin said.

The meeting also discussed expanding the use of Visa cards in public and government services, including metro rail, toll plazas and expressways, to make everyday transactions easier for people.

Karpin said Visa is also interested in contributing to the development of Bangladesh’s digital and creative economy.

Prime Minister's Adviser on Post, Telecommunication, ICT, Science and Technology Rehan Asif Asad , Bangladesh Investment Development Authority (BIDA) Executive Chairman Ashik Chowdhury, Bangladesh Bank Governor Md Mostaqur Rahman and senior Visa officials were present.