1. Banglalink obtains license from Bangladesh Bank as a payment service provider. 2. This expands financial services access to unbanked 72% of Bangladesh's population. 3. Services will include person-to-person transfers and e-commerce transactions. 4. VEON aims to dominate Bangladesh's growing digital economy with this initiative. 5. Established digital services marked a 25% growth, enhancing VEON's competitive position.
FAQ
Why Bullish?
The approval for Banglalink enhances VEON’s market position and growth opportunities, similar to successful expansions in other markets historically boosting stock performance.
How important is it?
The announcement directly impacts VEON's growth potential in a large untapped market, suggesting a significant near- and long-term stock price influence.
Why Long Term?
The entry into digital financial services sets a foundation for sustained growth over years as it integrates into Bangladesh's growing economy, similar to India's fintech success.
VEON's Banglalink Launches Digital Payment Services to Enhance Financial Inclusion in Bangladesh
Dubai and Dhaka, December 11, 2025 – VEON Ltd. (Nasdaq: VEON) has announced a significant milestone as its Bangladesh digital operator, Banglalink, receives regulatory approval from Bangladesh Bank to operate as a payment service provider. This development marks an important step in VEON's strategy to expand its services into digital financial sectors.
Expanding Access to Financial Services
With approximately 72% of Bangladesh’s population estimated to be outside the traditional banking system according to the Bangladesh Bureau of Statistics in 2023, this initiative provides a crucial opportunity to enhance financial inclusion across the nation. Banglalink's new payment services aim to offer customers regulated money transfer and payment services, fundamentally reshaping their access to formal financial tools.
Operational Rollout Plans
Banglalink is currently engaged in operational and technical preparations for its commercial launch, in collaboration with Bangladesh Bank and partner institutions. The forthcoming services are designed to seamlessly integrate into customers' mobile experiences, eliminating barriers and facilitating efficient access to financial resources.
- Instant person-to-person transfers
- Remittance services
- Utility and government bill payments
- Merchant and e-commerce transactions
- Salary and disbursement services
Further stages will include emerging financial solutions such as micro-savings and insurance premium payments, supported by a robust security framework to ensure safe, timely, and reliable transactions.
Statements from VEON Leadership
Kaan Terzioglu, CEO of VEON Group, emphasized the importance of digital financial services in the company’s DO1440 strategy, stating, “The green light for Banglalink to launch payment services will enable us to bring financial services directly to customers’ fingertips while helping accelerate Bangladesh’s growth as a digital economy.”
Johan Buse, CEO of Banglalink, added, “With Banglalink’s nationwide reach and VEON’s global capabilities, we are shaping a secure and inclusive digital payment ecosystem for Bangladesh.” He also noted the commitment to fostering community empowerment and digital innovation to support everyday life and propel the country toward a connected digital economy.
VEON's Experience in Digital Financial Services
This expansion into digital payments leverages VEON's extensive experience in digital financial solutions across various markets. As of September 30, 2025, VEON reported 42.1 million monthly active users for its digital financial services, demonstrating a 25% year-on-year growth. The launch in Bangladesh extends VEON’s footprint in one of South Asia’s largest and rapidly evolving digital economies.
About Banglalink and VEON
Banglalink is among the leading digital communications providers in Bangladesh, dedicated to transforming lives through technology. With a vision of becoming a future-ready service provider, Banglalink aims to meet the demands of the evolving digital landscape.
VEON is a global digital operator that connects nearly 150 million users, providing comprehensive digital services across five countries. VEON's commitment to empowering individuals through technology continues to drive economic growth in its operational regions. For more information, visit VEON's official website.