Islamic Wallet News Today

Bangladesh MFS Industry: In recent years, Bangladesh has seen tremendous growth in digitalization, which is gradually changing the shape of the country’s socioeconomic parameters and propelling it into the digital age.

Transactions through mobile financial services (MFS) rose 18.53 per cent year-on-year to Tk 96,132 crore in December thanks to a rise in merchant payments, cash-in and person-to-person transfers.

Transactions through mobile financial services (MFS) have decreased slightly in November last year compared to that in the preceding month, showed the latest data of Bangladesh Bank (BB). 

Transactions through mobile financial services (MFS) rebounded in October following a few months of decline thanks to a rise in government disbursements, cash-out and utility bill payments.

Transactions through mobile financial services (MFS) dropped for a second month consecutively in August as the festival season started to flatten amid the economic downturn.

The mobile financial service (MFS) sector in Bangladesh has been on a tear, with the number of accounts surpassing the 18-crore mark for the first time in July. 

Digital transactions in the country are set to get a boost as Bangladesh Bank has allowed customers to make an unlimited number of transactions through mobile financial services (MFSs).

Ten years past the advent of mobile financial services (MFS), over 11 crore account holders now conduct 2 crore transactions through it per day.