PayPal in Bangladesh from Oct 19: minister

Staff Correspondent | Published: 22:42, Oct 09,2017 | Updated: 00:33, Oct 10,2017

 
 

Online global money transaction service PayPal is likely to launch its service in Bangladesh on October 19, said state minister for ICT Zunaid Ahmed Palak on Monday.
Prime minister’s ICT adviser Sajeeb Ahmed Wazed Joy will inaugurate the US-based online payment system in Bangladesh, Zunaid told reporters.
The full-fledged launching of the service is an outcome of the long negotiation between the ICT Division and PayPal, he said.
Bangladeshi online freelancers have been requesting the government authorities concerned to take measures to bring PayPal service in the country as they were facing hassles in bringing their earnings to Bangladesh.
The government on several occasions in last two years said that PayPal would launch its service in Bangladesh.
According to the ICT Division data, there are 6,50,000 registered freelancers in the country, and of them around 5,00,000 are working regularly, earning $100 million annually.
The launching of the service will bring an end to the long-standing expectation of a large number of freelancers across the country, Palak said.
He said PayPal would be available in nine banks including Sonali Bank and Rupali Bank.
The state minister mentioned the launch of the service as a milestone for shaping Digital Bangladesh.
This service will be available in 12,000 branches of nine banks across the country, he said.
Since its start in December, 1998, PayPal has enabled nearly 20 crore individuals and businesses to transfer funds electronically.
PayPal, which is available in more than 200 markets around the world, enables its account holders to receive money in more than 100 currencies, withdraw fund in 56 currencies and hold PayPal account balances in 25 currencies. 

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