Kaan Terzioğlu, CEO of VEON Group, the parent company of Banglalink, discussed the potential for digital financial services to transform Bangladesh’s economy within three years. Highlighting the regulatory challenges faced by the market, Terzioğlu expressed optimism that the right reforms could open opportunities for digital services, supporting businesses and enhancing the tax base.
In a recent interview, Terzioğlu pointed to Bangladesh’s strategic importance for VEON, noting that despite its lack of market leadership in the country, VEON has long-term investment plans that focus on digital transformation. He emphasized that regulatory changes, such as easing restrictions on digital financial services and competition, could drive significant growth for the telecom operator.
Bangladesh, Terzioğlu noted, currently has the cheapest telecom services in the world, but the industry faces high taxes and an uneven competitive environment. The expansion of digital services, including mobile financial services, could help expand the tax base and increase the profitability of mobile operators, he explained. VEON’s approach, exemplified by its success in Pakistan, involves offering services like mobile wallets and microfinance to foster financial inclusion.
VEON has invested $350 million in Bangladesh over the past three years, but Terzioğlu called for reforms to unlock the full potential of digital services. He stressed that infrastructure sharing and the expansion of services in healthcare, education, and other verticals would play a crucial role in driving the country’s growth, positioning Bangladesh as one of VEON’s most promising markets.
Looking ahead to 2025, Terzioğlu expressed confidence that with the right regulatory changes, Bangladesh could become one of the fastest-growing economies globally, with VEON at the forefront of the country’s digital transformation.
