Bangladesh Bank has almost doubled the limit of transactions through mobile financial services (MFS).
In a recent circular, the central bank set the new limit for the mobile banking where a customer can deposit maximum Tk 30,000 in five times a day which was Tk 15,000 earlier.The monthly cash-in limit is remained unchanged as customers can deposit maximum Tk 1 lakh in a month.
Besides, the customers can withdraw Tk 25,000 in a day while the monthly cash-out limit extended to 1.5 lakh from existing limit of Tk 50,000.
In personal transaction, a customer can send maximum Tk 25,000 a day which was Tk 10,000 earlier and the monthly transaction limit is extended to Tk 75,000.
In the circular, the central bank mentioned that the mobile banking system has been contributing in financial inclusion in last couple of years as the sector has played a significant role in rural economy led by micro-transactions.
With the changing of payment eco-system, the central bank has brought a change in to the MFS transactions.