Bangladesh Bank plans to transform Cox's Bazar into the country's first cashless district, Governor Ahsan H Mansur announced on Saturday at an event in Chattogram.

Governor said smartphones priced between Tk 6,000-Tk 7,000 must reach every citizen to make Bangladesh cashless. Central bank aims to ensure at least 75% of retail transactions are conducted through digital technology by 2027.

Ahsan H Mansur emphasised strengthening Chattogram's regional and global connectivity, citing examples of Singapore, Dubai and Hong Kong.

He stressed that fully utilising the economic and strategic potential of the region.

"Bangladesh must strengthen Chattogram's regional and global connectivity, just as Singapore, Dubai and Hong Kong have done, so that the economic and strategic potential of this region can be fully utilised," governor said.

Central bank will soon introduce 24/7 real-time gross settlement systems at all seaports and airports. Instant electronic fund transfer systems will make import and export activities easier, governor added.

Ahsan H Mansur highlighted the need for adequate and affordable credit for the production sector. He emphasised expanding small and medium enterprise financing and agricultural loans at district and rural levels.

Cox's Bazar, Bangladesh's premier tourism destination, hosts millions of domestic and international visitors annually. Cashless transformation could streamline transactions for tourists, businesses and local residents.

Digital payment infrastructure has expanded rapidly in Bangladesh over recent years. Mobile financial services like bKash, Nagad and Rocket serve crores of users nationwide. However, cash remains dominant in rural areas and smaller towns.

Government's push towards digital economy aligns with broader financial inclusion goals. Bangladesh Bank's target of 75% digital retail transactions by 2027 represents ambitious growth from current levels.