BB suspends mobile banking for 48hrs

Staff Correspondent | Published: 00:00, Dec 28,2018 | Updated: 00:32, Dec 28,2018

 
 

Bangladesh Bank suspends all mobile financial services for 48 hours from 5:00pm on December 28 ahead of national elections.
The central bank issued a circular to this end on Thursday according to an Election Commission directive.
Data available until September, 18 banks provide mobile financial services to a total of 6.67 crore accounts.
Around Tk 30,000 crore are transacted through the accounts with a daily average Tk 1,000 crore.
According to the BB circular, all MFS providers must keep their mobile-based financial services suspended from 5:00pm on December 28 to 5:00pm on December 30.
However, transaction through personal MFS account up to Tk 5,000 in a day during 5:00pm on December 29 to 5:00pm on December 30 will be allowed, the circular said.
BB also asked the banks and subsidiaries of the MFS provider to take necessary initiatives regarding the matter and directed them to inform the concerned clients of the MFS about the decision.
Apart from suspending the digital payment method MFS, the EC, ahead of the polls, have already instructed Bangladesh Telecommunication Regulatory Commission to take preparation to degrade mobile internet speed to 2G from 3G and 4G during December 29, 30 and 31.
The EC or the law enforcing agencies, however, would give final instruction to the commission based on situation.

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