Sohozcash did not take permission from BB to launch MFS, says BB

The bank shuts down its previous platform SureCash

Nagad to transition into private sector as new investors are being sought

The government will form an independent board to run mobile financial service provider Nagad, Finance Adviser Salehuddin Ahmed said yesterday.

The habit of using digital payments, enforced by the pandemic, has become deeply ingrained for many, indicating a fundamental shift in consumer behaviour. Amidst pandemic-induced lockdowns and restrictions, the reliance on digital payments, including mobile money, has surged globally, contributing to the rapid expansion of registered accounts and active usage.

Bangladesh’s migrant workers sent home Tk 1,101.8 crore in remittances through mobile financial service (MFS) providers in August, marking the highest monthly receipts through digital channels in the past five years.

bKash, the leading mobile financial service (MFS) provider in Bangladesh, has joined hands with Grameenphone and City Bank to make 4G and 5G enabled smartphones more affordable for their clients.

The government's move to approve bancassurance is an opportunity to make insurance more accessible, trustworthy, and understandable.

The BFIU says in a meeting with commercial bankers

The mobile financial service providers can charge a maximum of Tk 0.7 for every Tk 100 deposited by the policyholders of the Universal Pension Scheme (UPS) as subscription fees to the pension authority.

It made a profit of Tk 2.37 crore in Q2 of 2023

Customers are increasingly opting for mobile financial services to top up balances, helping mobile carriers earn more than Tk 1,000 crore a month for the first time from the sales processed through MFS providers.