30 August 2023
Veon and its Bangladesh subsidiary Banglalink have applied for a digital banking licence in the country, to increase its customers’ access to financial services and step up the group’s growing presence in the fintech sector.
Veon said that it had submitted the application to the Central Bank of Bangladesh and, if approved, Veon would be able to add fintech offerings to its MyBL app already used by 7.1 million of its 42 million Banglalink subscribers. Banglalink’s MyBL app offers a range of services promoting digital inclusion, spanning music, gaming, education, ticketing and paying utility bills.
Securing a banking licence will accelerate Banglalink’s expansion into the fintech space and add digital financial services to its portfolio. Veon already operates fintech services in six countries, serving 21 million customers a month, including offering lending products in some markets.
