Digital loans making everyday life easier

Financial inclusion in Bangladesh is witnessing significant growth, largely driven by mobile financial services such as bKash. With an extensive network of agents and merchants, and over 80 million users, bKash has made financial services accessible to a vast number of people across the country.

Recently, bKash partnered with City Bank to introduce instant digital loans. This service allows users to borrow amounts ranging from Tk500 to Tk50,000 without any collateral.

It is particularly beneficial for people who face difficulties accessing conventional banking services. Borrowers can now obtain loans without the usual hassles of paperwork or collateral requirements. By April 2025, bKash had disbursed a total of Tk2,300 crore among approximately 950,000 users. The socio-economic impact of this digital loan service is already evident.

Samya, a student at North South University, said that bKash's digital loan has made her life easier. Living alone in Dhaka, she sometimes runs short of money at the end of the month. At such times, the digital loan allows her to borrow according to her needs. Others use the service to fund school or college admissions for their children.

Beyond serving as an everyday lifesaver, bKash's digital loan also helps empower users. Md. Al Amin from Khagrachari shared that he used a digital loan to enrol in online courses, acquire new skills, and secure employment. The service provides small business owners and rural entrepreneurs with immediate access to working capital, supporting livelihoods and local economic growth.

Despite challenges such as limited digital literacy, the rapid expansion of mobile-based digital credit is reshaping Bangladesh's financial landscape, making financial services more inclusive and accessible than ever before.

Ayaj Mahmud

Student, North South University

ayajmahmud999@gmail.com