AJ Hanna

VimpelCom, the parent company of mobile operator Banglalink, is ready to help deepen financial inclusion to complement the government's vision for a “digital Bangladesh”, said one of its top officials.

AJ Hanna, chief mobile financial services officer of VimpelCom, is currently visiting Dhaka and has expressed the company's willingness to invest in mobile financial service (MFS) platforms in Bangladesh. The official, however, declined to mention their planned investment figures.

“Opportunities in this space come in all shapes and sizes; it is difficult to put a number on that. We are open-minded and forward-thinking, and that is limitless,” said Hanna in an interview with The Daily Star yesterday.

Both VimpelCom and Banglalink are here to support the government and the people of Bangladesh by doing whatever it takes to expand MFS, he said.

VimpelCom currently offers world-class MFS in many of their markets, including Russia, Italy, Kazakhstan, Ukraine and Pakistan. And they have some services in Bangladesh as well, added Hanna.

For the smooth running of MFS, security is the key to getting success and they are always operating at the highest standards of compliance, Hanna added.

“As Banglalink is already leading in the biometric registration of subscribers, we are confident in providing MFS with the most authentic information and security measures.”

VimpelCom also has one of the most renowned platforms, which ensures seamless operation across all the channels of operation, Hanna said.

As of January, Banglalink has 3.24 crore active subscribers, with a strong distribution network of over two lakh retail agents in almost every corner of the country, which will help them offer real-time services.

Hanna, however, raised concerns over the central bank's draft guideline on MFS. The mobile operators will not be interested in investing heavily, if this guideline is implemented, he said.

The central bank recently began a process to allow any entity to have at best 15 percent share in a consortium of MFS. However, Hanna thinks anything less than 49 percent is unattractive.

“We have the retail network, a ready customer base and global know-how to offer financial services to Bangladeshi consumers right now. If a multiple ownership policy is imposed, there will be endless delays and hopeless frustration,” he added.

“We will provide the best technology, the best products and the best services, online and offline.”

VimpelCom and Banglalink are looking to opportunities to make MFS a part of everyday life for the people of Bangladesh. 

“It's more than financial inclusion. It's lifestyle convenience for the new digital lifestyle we are aspiring for.”

Hanna also welcomes the biometric SIM registration and verification initiative of the government. “It's a bold move but one that has to be taken. This will greatly benefit consumers and will enable us to provide them with more innovative and real time financial services that are tailored to their individual needs.”

Banglalink has been aggressive in adopting this directive and is believed to have registered the highest number of people with biometrics, he said. “This paves the way for easy, fast and secure mobile wallet registration and can instantly increase the number of MFS users in the Bangladesh economy.”

Hanna said people are spending a lot of their time online via their mobiles, sharing their lives on Facebook, searching for information, or chatting with their friends and families.

Currently, Banglalink has 15 percent penetration in the smartphone market, which is increasing day by day.

Hanna said, in the digital world of tomorrow, people will use their phones to do their shopping, pay their utility bills and transfer money.

The people at the bottom of the pyramid, who are yet to start using smartphones, have already embraced Unstructured Supplementary Service Data based mobile financial services like sending and receiving money.

USSD is a protocol used by cellular telephones to communicate with the service provider's network.

Mobile operators can further complement this penetration by providing more customer friendly interfaces like mobile apps, Bangla content and much more, Hanna added.