Bangladesh Bank Governor Dr. Ahsan H. Mansur has announced that all banks, mobile financial services (MFS), insurance companies, and other financial institutions in Bangladesh will adopt a cashless inter-transaction system starting from July 2027. The initiative aims to eliminate the need for cash withdrawals and enhance transparency in financial transactions. Speaking at an event in Dhaka’s Westin Hotel, the governor emphasized that digitization is essential for ensuring transparency, reducing corruption, and improving revenue collection. During the event, Bangladesh Bank signed an agreement with the Gates Foundation’s Mojaloop to establish the inter-transaction platform, which will be called the Inclusive Instant Payment System (IIPS). The agreement was signed virtually due to security considerations. The move is expected to accelerate Bangladesh’s transition toward a fully digital financial ecosystem and strengthen financial inclusion across the country.