The board of bKash Ltd, the largest Mobile Financial Service Provider in the country, has re-elected Shameran Abed as Chairman for a second term at a meeting held on Tuesday, October 27. Mr. Abed was earlier elected as Chairman in November, 2015 for a term of 5 years. Mr. Abed is a Senior Director at BRAC and also sits on the boards of several companies including BRAC Bank Ltd. The board also accepted the resignation of Mr. Douglas Feagin, nominee director of Ant Group, and welcomed Mr. Gouming Cheng in his place. Other members of the bKash board include Brac Bank nominees Mr. Selim R F Hussain, Mr. K Mahmood Sattar, Barrister Nihad Kabir and Mr. Ryan Gilbert, Money in Motion nominees Mr. Nick Hughes and Mr. Arun Gore, IFC nominee Mr. Andi Dervishi and Ant Group nominee Mr. Kenny Man.
bKash Ltd is a bank-led Mobile Financial Service Provider in Bangladesh licensed by Bangladesh Bank as a subsidiary of BRAC Bank Limited. bKash provides safe, convenient and easy ways to make payments and money transfer services via mobile phones, with a particular focus on the unbanked people of Bangladesh. At present, bKash is one of the leading Mobile Financial Services Provider in the world. bKash started as a joint venture between BRAC Bank Limited, Bangladesh and Money in Motion LLC, USA in 2010. In April 2013, International Finance Corporation (IFC), the private-sector investment arm of the World Bank Group, made an equity investment and in March 2014, Bill & Melinda Gates Foundation became an investor in the company. In April 2018, the Ant Group (previously Ant Financial), an affiliate of globally reputed Alibaba Group, became an investor in bKash. 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 people of the country to achieve broader financial inclusion by providing services that are convenient, affordable and reliable.