A delegation led by Augie Fabela, chairman of VEON Group, met with the Governor of Bangladesh Bank, Md Mostaqur Rahman, on Tuesday. Senior officials of Bangladesh Bank were also present at the meeting. Discussions focused on investment in Bangladesh’s digital financial services sector, the expansion of technology-driven payment services, financial inclusion, and the country’s regulatory framework.

The VEON Group briefed Bangladesh Bank on its interest and plans to expand digital financial services in Bangladesh. The discussions covered issues related to Mobile Financial Services (MFS), Payment Service Provider (PSP) operations, and licensing and regulatory requirements for digital banking.

The company informed the central bank that it has already applied for a PSP licence and is interested in moving forward with a well-structured plan to participate in Bangladesh’s broader digital financial services ecosystem.

The meeting also discussed the shareholding structure of existing digital financial service providers, potential partnerships, and VEON Group’s interest in becoming a majority shareholder. Both sides exchanged views on the next steps, including compliance with the appropriate corporate structure, applicable laws, regulatory requirements, and necessary approvals.

Bangladesh Bank stated that it remains committed, in principle, to supporting the expansion of secure, transparent, rules-based, and inclusive digital financial services in the country. In this context, the central bank said VEON Group’s relevant application would be given priority consideration, subject to compliance with applicable laws, regulations, and supervisory procedures.

The meeting also concluded with both sides agreeing to maintain regular communication and continue discussions on the next course of action.