Eastern Bank PLC and mobile financial service provider bKash have jointly launched the country's first digital fixed deposit receipt (FDR) service, available directly through the bKash app.
The initiative marks a significant expansion of the partnership between the lender and the fintech platform, moving beyond credit products into deposit mobilization.
Ali Ahmmed, chief commercial officer of bKash, and M Khorshed Anowar, deputy managing director and head of retail and SME banking at Eastern Bank, inaugurated the service, signaling a strategic push to deepen financial inclusion through digital channels.
The launch represents a structural shift in how retail customers in Bangladesh can access traditional banking products.
By integrating fixed deposits into the bKash ecosystem, the partners aim to reduce friction for users who previously had to visit physical branches to open term deposits.
This move aligns with broader trends in emerging markets where mobile money platforms are evolving into comprehensive financial hubs, competing directly with traditional banks for low-cost funding.