Staff Correspondent: Mobile Financial Services (MFS) activities and transaction volumes in the country have grown exponentially. According to the latest data of Bangladesh Bank, more than TK 3000 crore is being transacted on an average daily through mobile banking including BKash, Rocket, Cash and others.

According to Bangladesh Bank, in July,the First month of the current financial year- customers have transacted TK 89,167 crore through mobile banking .

However, information of Nagad has not been added. Adding this cash account will increase the transaction volume by another TK22,000 crore. Accordingly, MFS transactions in mobile banking will stand at around TK 1.11 lakh crore. The daily transaction is TK3700 crore.

According to a source related to this sector, new services including shopping, workers’ salary and allowances, payment of various bills, loan disbursement are being added with the facility of sending money instantly to all places through mobile banking. As a result, people’s interest as well as reliance on MFS like Bikash, Rocket and Nagad is increasing. Mobile banking services now has more than 18 crore customers/accounts.

Recently, The central bank has increased the limit of mobile banking transactions considering the growing demand of customers.

Now through MFS customers can deposit Tk 30,000 from agents and Tk 50,000 from bank account or card per day.

Earlier daily deposits could not exceed Tk30,000. Now one customer can send TK 2 lakh per month to another. Earlier this limit was Tk75,000.

1. Serajul Islam, executive Director and Spokesperson of Bangladesh Bank said, considering the convenient transaction opportunities and to encourage cashless society, the central bank is gradually easing transactions through MFS. E-commerce, online trading and payment systems is growing in the country to require the need of people special in the urban life, the BB has increased the limit of transaction volume.

Currently, 13 banks are providing various mobile banking services including Bikash, Rocket, Ucash, MyCash, SureCash in Bangladesh. At the end of July 2022, the number of customers registered in mobile banking was 18.11 crore.