Non-life insurance companies in Bangladesh will be able to collect premiums through mobile financial service (MFS) providers as the Insurance Development and Regulatory Authority (Idra) looks to facilitate the use of modern technologies in the industry.

The Bangladesh Bank says in a circular

Mobile financial service (MFS) providers recorded Tk 1.25 lakh crore-worth transactions in April, the highest ever so far, buoyed by an increase in spending, payments and money transfers ahead of the Eid-ul-Fitr festival. 

Nagad will now move to be an MFS under Nagad Finance

The MFS provider made a profit for the first time in four years

Users of a mobile financial service (MFS) provider can now transfer money to their counterparts registered with other operators and banks as interoperability among the financial service providers comes into a reality today.    

The cabinet yesterday gave the nod to the draft of the Essential Service Act, 2022, including a clause that criminalises strikes in organisations whose services are declared essential -- in a development that stands to set back the country’s labour rights.