The Institute of Chartered Accountants of Bangladesh (ICAB) has advocated for the adoption of a central bank digital currency (CBDC), called e-Taka, alongside the interoperable digital transaction platform Binimoy introduced by the Bangladesh Bank. The ICAB highlighted the benefits of e-Taka, including enhanced fund tracking, prevention of misuse, and restriction of illegal transactions. China’s digital yuan launch has spurred other central banks to consider their own CBDCs. The ICAB stressed the importance of legal considerations and collaboration among central banks for CBDC implementation. The introduction of e-Taka would enable transparent fiscal disbursements and curb illegal activities. The press release emphasized the need for countries to leverage emerging technology expertise to navigate the challenges and opportunities of the Fourth Industrial Revolution (4IR).
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