MFS

MFS providers highlight unfair advantage of Post Office’s Nagad

Mobile financial services (MFS) in Bangladesh have highlighted the unfair advantage that the Post Office’s mobile banking service, Nagad, poses. They also expressed their worry about the potential misuse of Nagad for money laundering and terrorist financing. Nagad allows customers to make a single transaction of BDT 50,000 and maximum BDT 250,000 in 10 transactions per day and withdraw maximum BDT
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More Than 1 Crore MFS Accounts Inactive: BTRC

According to Mohammad Zulfikar, director for the system and services division of the Bangladesh Telecommunication Regulatory Commission, There are 3.2 crore mobile financial accounts in the country but two-thirds of them are inactive. At present, 58 percent of the population is under the country's financial inclusion initiative, but of them, only 18 percent have banking access.
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