Ant Financial, a unit of Alibaba’s payment arm Alipay, is buying 20 per cent stake in Bangladeshi mobile financial services provider bKash, according to reports by local media.
Established in 2010 by founding shareholders, BRAC Bank Limited and Money in Motion LLC, 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.
