Bangladesh is taking significant steps to integrate international payment systems like PayPal to expand global market access for small and medium-sized enterprises (SMEs). The initiative, announced by Bangladesh Bank Governor Ahsan H Mansur, aims to modernize the cottage and small industries sector by fostering stronger digital connectivity. Speaking at the Annual Conference and Workshop 2025 at the Bangladesh Small and Cottage Industries Corporation (BSCIC) headquarters in Dhaka, Mansur emphasized the importance of removing regulatory barriers to allow SMEs to receive payments seamlessly through platforms such as PayPal.
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Mansur highlighted that the integration of international payment gateways is essential for linking local entrepreneurs to global markets, enabling them to compete in an increasingly digital economy. He stressed the need to support small and cottage industries by strengthening supply chains, encouraging integration with larger firms, and building sustainable platforms that can help local businesses thrive.
While acknowledging the progress made, Mansur pointed out the challenges that remain in financing. He noted that only Tk 200-250 crore is currently being disbursed by BSCIC, which is insufficient to meet the needs of SMEs. He recommended partnering with microfinance institutions and specialized banks to ensure that loans reach the intended businesses more effectively.
Another key proposal was the creation of a dynamic online marketplace for BSCIC entrepreneurs. Mansur suggested developing a professionally managed e-commerce platform that would directly connect producers with buyers, eliminate middlemen, and ensure fair pricing. He emphasized the importance of continuously updating and maintaining the platform with quality IT personnel and infrastructure.
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Finally, Mansur underscored the importance of demand-side development. He warned that increasing supply without corresponding market creation would lead to inefficiencies, urging that market access must come first to ensure the success of entrepreneurs. This holistic approach aims to empower Bangladesh’s SMEs, improving their access to global markets and supporting their long-term growth.