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 27-Apr-18, Deal Street Asia

Ant Financial, a unit of Alibaba‘s payment arm Alipay, is buying 20 per cent stake in Bangladeshi mobile financial services provider bKash.

Alibaba unit Ant Financial to buy 20pc stake in Bangladesh payments firm bKash (c) Reuters Bobby Yip

Image: Reuters / Bobby Yip

Established in 2010 by BRAC Bank and Money in Motion, bKash offers payment services in Bangladesh, where it runs a network of more than 180,000 agents throughout urban and rural areas with over 30 million registered accounts.

Ant Financial and bKash have also teamed up to form a strategic partnership to promote financial inclusion for the unbanked and underbanked in Bangladesh.

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 Financial Services insights 

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