Submitted by:Sonia Afrin (MSS-141505)

Md. Ashikur Rahman (MSS-141511)

Md. Hozrat Ali Baghti (MSS-141514)

Sonia Yeasmin (MSS-141523)

Economics Discipline Khulna University

Submitted to: Khan Mehedi Hasan Course Instructor Economics Discipline Khulna University

About bKash

bKash Limited, a subsidiary of BRAC Bank, started as a joint venture between BRAC Bank Limited, Bangladesh and Money in Motion LLC, USA. In April 2013, International Finance Corporation (IFC), a member of the World Bank Group, became an equity partner and in April 2014, Bill & Melinda Gates Foundation became the investor of the company.

bKash is a safe, convenient and easy ways to make payments and money transfer services via mobile phones to both the unbanked and the banked people of Bangladesh. Through partnerships with all major mobile operators of Bangladesh, bKash's technology allows 98% of the country's mobile users to access its service via very basic handsets.Objective: The ultimate objective of bKash is to ensure access to a broader range of financial services for the people of Bangladesh. It has a special focus to serve the low income masses of the country.

History of bKash

bKash service launched in Bangladesh in the second half of 2011, grew to 2 million accounts by the end of 2012 and shot up to 11 million registered accounts by the end of 2013. Unlike large mobile money business in the other countries , bKash is a mobile network operator and did not have an existing customer base to which it added mobile financial services. bkash acquired each client on its own.

Bangladesh’s central bank has approved more that 20 licenses to offer mobile financial service. Among them more than 80 percent of financial transaction are done through a single company. That is bKash Limited.

Services of bKash

Cash inTo avail bKash service we need to have money stored in our bKash wallet. For putting money in our wallet we need to follow the step below:1.Go to any bKash agent 2. Let him know the amount you want to Cash In3. Write down your wallet number and the Cash In amount in

Agent register 4. Pay the amount of money you want to cash in

Cash outIf we have sufficient credit in our bKash wallet, we can withdraw cash anytime from anywhere. To Cash out from your wallet :

Services of bKash (Cont..)1. Go to any bKash agent 2. Let him know the amount you want to cash out 3. Write down your wallet number & the amount in Agent register 4. Dial *247# on your mobile for bKash menu 5. Choose “Cash Out” 6. Choose “From Agent” 7. Enter Agent‟s wallet number (ask the agent) 8. Enter the amount 9. Enter your wallet PIN 10. Done! You and the Agent both will receive confirmation message

Send MoneyWe can also transfer money to other's bKash wallet by following the step:

Services of bKash (Cont..)1.Go to bKash Menu by dialing *247# 2. Choose 'Send Money' 3. Enter the wallet number amount you want to send money to4. Enter a reference about the transaction 5. Now enter your wallet PIN to confirm the transaction and done.

PaymentCustomer can also make payment from his own wallet to any small or big business entity who accepts bKash:1.Go to bKash Menu by dialing *247# 2. Choose 'Payment' 3. Enter the business wallet number you want to pay to 4. Enter the amount you want to pay 5. Enter a reference against your payment 6. Enter the counter number 7. Now enter your PIN to confirm and done.

Coverage of bKashUnder a partnership with UNDP and Local Government Division, bKash is rolling out mobile banking in 4,501 union parishads in the country. bKash has already signed a deal with a leading mobile operators and is in talks with others to enable all mobile users. Currently around 7.5 crore people to have individual bKash digital wallets.

Interest on SavingsAlong with keeping money safe, you can also enjoy up to 4% Interest (per annum)on Savings on your bKash Wallet. Interest is offered to bKash Customer Wallets only.

International RemittancebKash brings you the easiest and most convenient way of sending and receiving International Remittance.

Partners of bKash

Advantages of bKashTime SavingbKash service is available anytime, anywhere throughout the country. So it can save one’s time.

Cost Convenient

It is convenient, affordable and much more effective in developing savings habits, it will make access to banking and advanced payment transactions at affordable cost. Trust Worthy

bKash is much safer and safeguard against fraudulent transactions.

User FriendlyIts using system is also easy. Anyone can use it. It also develops to bring poor people into banking system. FastbKash is dedicated to widening the net of financial inclusion among the people of Bangladesh by facilitating money transfer through mobile phones.

Advantages of bKash (Count…)Make Life EasierbKash service make our life easier by doing all the transactions on time.SecurityIn bKash a confidential pin code is used by the user. PIN ensures security of money and protects our account. So mobile banking is fully secured.Speedy ProcessOne benefit of bKash is a very speedy process. Transaction can be done anytime anywhere quickly in less time.NationwideThe service is supported by mobile networks of all the leading MNOs which enables you to access your bKash Wallet even from the remotest areas of Bangladesh.

Disadvantages of bKashCompatibilityWe need a smart phone to get the bKash service. If you do not own a smart phone, the types of mobile banking you can do are usually limited.

CostThe cost of bKash might not appear significant if you already have a compatible device, but you still need to pay data and text messaging fees. Some financial institutions charge an extra fee for mobile banking service, and you may need to pay a fee for software .

SecurityMobile users are especially susceptible to a phishing-like scam called "smishing." It happens when a mobile banking user receives a fake text message asking for bank account details from a hacker posing as a financial institution. Many people have fallen for this trick and had money stolen through this scam .

Differences with Conventional Banking

bKash is real time on-line banking. As it is on-

line banking it takes less time than traditional

banking. It will make access to banking and

advanced payment, transactions at affordable

cost. People have not to wait by standing in a

long line which is happen in traditional banking

system.

Till now, bKash is the most visible mobile bank in Bangladesh. It has been running heavy advertising from the beginning. Bangladesh could benefit from having more than just one dominant business. Early fast scale has provided a platform for bKash to take its next steps and has shown that it is possible to create a deeper and more competitive market in Bangladesh. At the same time, lessons from Bangladesh are being watched by regulators and businesses in other countries that are thinking about the benefits of allowing specialized companies to offer mobile financial services at scale.

Thank you