Corporate
BD among the top 3 countries for active users’ growth on Facebook
Bangladesh is among the top 3 countries contributing to active users growth for Facebook as of December 31, last year, social media major Meta said in a regulatory filing.
“Users in India, the Philippines and Bangladesh represented the top three sources of growth in DAUs during December 2022, relative to the same period in 2021,” Meta said.
The company has reported a 4 percent increase in worldwide daily active users (DAUs) to two billion on average during December 2022 from 1.93 billion during December 2021.
The company reiterated the risk to its operation in India due to the proposed data protection framework.
The company defines a daily active user as a registered and logged-in Facebook user who visited Facebook through its website or a mobile device, or used the Messenger application (and is also a registered Facebook user), on a given day.
The monthly active users (MAUs) as of December 31, 2022, increased by 2 percent to 2.96 billion from December 31, 2021.
India stood among the top three contributors in terms of monthly active users too.
“Users in India, Nigeria, and Bangladesh represented the top three sources of growth in 2022, relative to the same period in 2021,” Meta said.
The company reiterated the risk to its operation in India due to the proposed data protection legal framework in India.
“In addition, some countries, such as India and Turkey, are considering or have passed legislation implementing data protection requirements or requiring local storage and processing of data or similar requirements that could increase the cost and complexity of delivering our services, cause us to cease the offering of our products and services in certain countries, or result in fines or other penalties,” the filing dated February 1 said.
Meta has also cautioned investors that it could also face fines, orders restricting or blocking services in particular geographies, or other government-imposed remedies as a result of content hosted on its services citing examples of India and Germany.
“For example, legislation in Germany and India has resulted in the past, and may result in the future, in the imposition of fines or other penalties for failure to comply with certain content removal, law enforcement cooperation, and disclosure obligations,” the filing said.
Grameenphone (GP) and bKash Partner to Simplify Financial Inclusion
Grameenphone, a leading smart connectivity provider in Bangladesh, has teamed up with bKash, the country’s largest Mobile Financial Service (MFS) provider, to enable seamless bKash account openings directly through the MyGP app. This innovative feature sets a new standard for accessibility and ease of use in mobile financial services.
The integration within the MyGP app marks a pioneering initiative, being the first of its kind in Bangladesh. This collaboration reinforces Grameenphone and bKash as major innovators in their respective industries. According to a press release, this partnership allows customers to register for bKash accounts by simply clicking on a dedicated section within the MyGP app.
With user consent and a few verifications, customers are swiftly directed to the bKash registration platform, where they can complete the eKYC (electronic Know Your Customer) process. This streamlined procedure enables customers to quickly access a wide range of financial services offered by bKash. Initially, this service is available to Android users through the MyGP app.
New customers who open a bKash account via the MyGP app will receive a bonus of up to Taka 125, encouraging them to explore the diverse features and services provided by the bKash platform.
Expressing his enthusiasm for the partnership, Yasir Azman, CEO of Grameenphone, stated, “At Grameenphone, our customers are at the heart of everything we do. Our collaboration with bKash reflects our customer-centric approach and our commitment to promoting financial inclusion and digital empowerment to create a Smart Bangladesh.”
Kamal Quadir, Founder and CEO of bKash, echoed this sentiment, adding, “Financial inclusion and inclusive services have been part of bKash’s DNA since its inception. This innovative joint initiative with Grameenphone will allow customers to instantly access various financial services, contributing to the digital ecosystem. This increased accessibility will enable more customers to embark on Bangladesh’s cashless journey.”
Startup Bangladesh Limited has unveiled a strategic investment of BDT 1 crore in Pulse Tech Ltd, a move set to revolutionize digital healthcare in Bangladesh. This significant investment signals a profound commitment to bolstering the nation’s digital healthcare sector.
During a formal signing ceremony in Dhaka, attended by key figures including Md. Shamsul Arefin, Chairman of the Board of Directors at Startup Bangladesh, and Senior Secretary of the ICT Division, alongside Sami Ahmed, Managing Director of Startup Bangladesh, the investment was officially announced. Also present were Arefeen Raafi Ahmed, Co-founder and Managing Director, and Kazi Ashikur Rasul, Co-founder and CEO of Pulse Tech Ltd, along with senior management.
Pulse Tech Ltd. is renowned for its innovative solutions tailored for the retail pharmaceutical industry in Bangladesh. Their comprehensive B2B SaaS platform empowers retail pharmacies to efficiently source products, manage inventory, and track transactions in a seamless digital environment. With a mission to eliminate counterfeit and expired products from the market, Pulse Tech aims to transform retail pharmacies into comprehensive healthcare hubs, offering services such as diagnostic test booking, telemedicine, and medicine supply.
Md. Shamsul Arefin underscored the strategic importance of the investment, stating, “Investing in Pulse Tech Ltd. is a strategic move to enhance our national healthcare infrastructure. Through this investment, we aim to enable Pulse Tech to innovate and expand its services in the retail pharma industry, crucial for advancing healthcare technology in Bangladesh.”
Sami Ahmed, Managing Director of Startup Bangladesh, echoed this sentiment, expressing, “We believe in the transformative potential of technology and are proud to partner with Pulse Tech as they drive digital healthcare innovation. Our investment reflects our confidence in their vision and our commitment to nurturing startups vital for technological advancement and economic growth.”
With this injection of capital, Pulse Tech is poised to accelerate technology development and expand operations, focusing on improving the efficiency of retail pharmacies and accessibility of authentic medicines nationwide. The investment from Startup Bangladesh is anticipated to have a significant impact on the healthcare sector, providing state-of-the-art solutions to meet the evolving needs of the Bangladeshi population.
Arefeen Raafi Ahmed, Co-founder and Managing Director of Pulse Tech Ltd., expressed excitement about the partnership, stating, “We are thrilled to welcome Startup Bangladesh as our newest investor. Their guidance and support will be instrumental in helping us achieve our organizational goals and positively impact Bangladesh’s retail pharmaceutical industry and healthcare landscape.”
This strategic alliance between Startup Bangladesh and Pulse Tech Ltd. marks a pivotal step towards a technologically advanced and health-conscious Bangladesh.
Following the merger of EXIM and Padma, BASIC Bank is now set to merge with City Bank. The decision was reached during a meeting held today (8 April) at the Bangladesh Bank. Sources within the central bank revealed that the merger will be voluntary. This significant decision emerged from a meeting between Bangladesh Bank Governor Abdur Rauf Talukdar and City Bank’s Chairman Aziz Al Qaiser and Managing Director (MD) Mashrur Arefin.
Previously, on 19 March, the board of City Bank received a recommendation to merge with Basic Bank. Subsequently, discussions ensued between the boards of both City Bank and Basic Bank. Officials from both banks engaged in internal discussions regarding this matter. Despite the merger, sources indicate that the two banks will continue to report separate financials for the next three years.
