The Average daily transaction of Mobile Financial Service (MFS) has crossed Tk 3,200 core and its volume shows a growing trend.

According to the latest report of Bangladesh Bank (BB), MFS gets popular in Bangladesh due to convenient transaction opportunities and payment facilities.

The central bank officials say inward remittances are also coming through MFS. As a result, people's interest and dependence on MFS are increasing. The volume of transactions with customers is also increasing because of multifold uses of this service.

According to the BB, in January on average daily transactions through MFS was Tk 3,245 crore, excluding Nagad mobile finance operator as this MFS provider is not included under the BB financial report.

If the Nagad transaction is added, then the MFS’ daily transaction volume would cross Tk 4,200 crore.

The BB report revealed that 60 percent of the transaction was money deposit and windrowing while 40 percent was digital payment in January 2023.

The number of customers is increasing day by day with transactions in mobile banking.

“There is no fee to open an account. Money can be sent everywhere instantly. At the same time, many new services have been added including payment of shopping bills, and loan facilities. These are contributing to an increase in the number of users,” said Dr Salehuddin Ahmed, former governor of the BB.

Bd-pratidin English/Golam Rosul