Monthly MFS transaction limit of Tk 2 lakh remained unchanged

The Bangladesh Bank today said that the highest monthly transaction limit of Tk 2 lakh from person to person through mobile financial services (MFS) would remain unchanged.

The monthly transaction limit was increased from Tk 75,000 on April 4 soon after the government declared strict restrictions on movement to contain the second wave of the coronavirus pandemic.

The central bank, however, withdrew the facility of MFS transactions that allowed clients to settle Tk 40,000 without any charge through MFS.

The government has recently reopened the economy, which is why the BB has taken the decision, a BB official said.

From now on, MFS providers can impose the charge as per their business policy.

 The central bank also said that credit cardholders would have to face interest on the overdue amount of their cards.

In April, banks were asked to impose interest on the only principal amount of credit cardholders.

But, the latest notice has withdrawn the rules as well.