The government will form an independent board to run mobile financial service provider Nagad, Finance Adviser Salehuddin Ahmed said yesterday.
They demand swift arrest of the attackers
They vandalised his vehicle, injured the driver in Dhaka’s Banani
The central bank's payment system department filed the case with Motijheel Police Station
CEO post will be abolished, but none will lose job, says Badiuzzaman Dider on first day in office
People made Tk 4,100 crore MFS transactions in 2023's December
Three each from manufacturing, trading and services sectors
The BFIU says in a meeting with commercial bankers
The use of bKash, the leading mobile financial service provider in Bangladesh, has given a boost to the income of households, empowered women and reduced the impact of risks during times of uncertainty, according to a study of the Bangladesh Institute of Development Studies (BIDS).
The novel coronavirus has accelerated the global trend towards a cashless economy. The growth of e-commerce and the ease of contactless payment options amidst the fear of paper money contamination with the virus have further boosted the scope of digital transaction.
During his childhood, Md Mujbur Rahman would see his mother waiting for days to receive money sent by his father through the post office from Adamjee Jute Mills, the then biggest operational jute mill in the world.
In the middle of an ongoing pandemic, the use of cash transactions imposes various risks. I have found it very difficult to switch to completely cashless transactions.
Mobile financial services are already growing at a fast clip in Bangladesh. If interoperability among operators and compliance is ensured, the service’s cost is brought down, and a level-playing field is guaranteed, the industry will reach a new height.
The most defining perk of using Mobile Financial Services (MFS) is being able to use mobile phones to access financial services and execute financial transactions. Put simply, cashless payment makes life easier.
Regulatory Guidelines for Mobile Financial Services (MFS) in Bangladesh
Depending on the operation, responsibility and relationship(s) among MFS SolutionProvider and customers mainly two types of mobile financial services (Bank-led and Non-Bank-led) are followed worldwide.
Bangladesh will be a role model for Mobile Financial Services globally if the present trend of growth continues, said Bangladesh Bank Governor Atiur Rahman.
